DVI Bands
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:
The Directional Volume Index (DVI) is defined as follows:
DVI = VWMA (len1) - SMA (len2), where by default, len1==len2
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.
The DVI bands is based on my previously published DVI script:
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.
Versionshinweise:
- Introduced markers to indicate points where the DVI pierces above/below the upper/lower DVI-Band.
Versionshinweise:
Adjusted markers plot position.
Versionshinweise:
Changed default analysis length.
Versionshinweise:
Adjusted size and transparency of crossover markers.
Versionshinweise:
Updated vwma smoothing default.
Versionshinweise:
Script now allows users to select the carrier MA mode onto which the DVI is superimposed.
Versionshinweise:
Added linreg carrier mode.