Knowledgebase:
NegativeVolumeIndex
Posted by Mohammad Rahhal, Last modified by Rawan Al Hourani on 08 March 2016 03:23 PM

Syntax

Public Function NegativeVolumeIndex(chart_id As Long, applyTo As ENUM_APPLIED_PRICE, volumeVal As ENUM_VOLUME_METHOD) As String

The Negative Volume Index (NVI) is a cumulative indicator that uses the change in volume to decide when the smart money is active.

Paul Dysart first developed this indicator in the 1930s. In fact, the Market Technicians Association selected Dysart for their annual award in 1990 to recognize his contributions to technical analysis.

Dysart's Negative Volume Index works under the assumption that the smart money is active on days when volume decreases and the not-so-smart money is active on days when volume increases.

Parameters

Key Description 
chart_id Chart location at chart window, 0 mean current chart, value of type Integer.
applyTo  Applied price , can be one of the  ENUM_APPLIED_PRICE
volumeVal Volume type for calculation, can be one of the  ENUM_VOLUME_METHOD.

Return value

Returns the handles of a technical indicator, in case of failure returns an empty string.

Sample

Public Sub main()

AlertMessage (NegativeVolumeIndex(0,Price_close,volume_open))

'Draws the indicator on chart and shows a message box with the indicator name.

End Sub


See Also


Back to VTL Client Script Index

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