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DVI Bands

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A new idea of mine that I am presently experimenting on for my trades.

The DVI bands is based on my previously published DVI script:
Directional Volume Index


The Directional Volume Index (DVI) is defined as follows:
DVI = VWMA (len1) - SMA (len2), where by default, len1==len2

  • The position of the DVI above/below the current price provides volume confirmation of the direction of the price trend.
  • The magnitude of the DVI above/below the current price provides the volume confirmation of the strength of the price trend.


The stdev band is derived from the DVI where:

* The DVI piercing the Stdev boundary suggests a significant move in the corresponding direction.
* Tightening of the DVI-Stdev bands can suggest the possible incoming of major move ahead.


The novel aspects and principles of this indicator and this source code are the property of © cybernetwork.
Информация о релизе
  • Introduced markers to indicate points where the DVI pierces above/below the upper/lower DVI-Band.
Информация о релизе
Adjusted markers plot position.
Информация о релизе
Changed default analysis length.
Информация о релизе
Adjusted size and transparency of crossover markers.
Информация о релизе
Updated vwma smoothing default.
Информация о релизе
Script now allows users to select the carrier MA mode onto which the DVI is superimposed.
Информация о релизе
Added linreg carrier mode.

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