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.
|chart_id||Chart location at chart window, 0 mean current chart, value of type Integer.
|applyTo||Applied price , can be one of theENUM_APPLIED_PRICE.|
|volumeVal||Volume type for calculation, can be one of theENUM_VOLUME_METHOD.|
Returns the handles of a technical indicator, in case of failure returns an empty string.
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
Leave A Comment