Positive Volume Index Formula
The positive volume index formula helps identify a bear market. When the positive volume index is below its moving average there is higher probability for a bear market. The probability for a bear market is much lower when the positive volume index is above its moving average.
This formula should be used together with the Negative Volume Index Formula.
Formula Details
Syntax
Chart.DataManipulator.FinancialFormula(
FinancialFormula.PositiveVolumeIndex,
"StartPVI",
"Close,Volume",
"PVI")
Parameters
This formula takes one required parameter.
- StartPVI
Start value of the positive volume index.
Input Values
This formula takes two input Y values.
Close
Daily close price.Volume
Daily volume.
Output Value
This formula outputs one Y value.
- PVI
Positive volume index.
Remarks
The Line chart type is a convenient chart type to display the formula output.
Example
The following example takes input from Series1's Y value for the daily close price (Series1:Y4) and Series2's Y value for the daily volume (Series2:Y), and then outputs the positive volume index on Series3 (Series3:Y), using a starting index of 100.
Chart1.DataManipulator.FinancialFormula (FinancialFormula.PositiveVolumeIndex, "100", "Series1:Y4,Series2:Y", "Series3:Y")
Chart1.DataManipulator.FinancialFormula (FinancialFormula.PositiveVolumeIndex, "100", "Series1:Y4,Series2:Y", "Series3:Y");
See Also
Reference
System.Windows.Forms.DataVisualization.Charting
System.Web.UI.DataVisualization.Charting