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DVI Bands

1789
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.
Nota Keluaran
  • Introduced markers to indicate points where the DVI pierces above/below the upper/lower DVI-Band.
Nota Keluaran
Adjusted markers plot position.
Nota Keluaran
Changed default analysis length.
Nota Keluaran
Adjusted size and transparency of crossover markers.
Nota Keluaran
Updated vwma smoothing default.
Nota Keluaran
Script now allows users to select the carrier MA mode onto which the DVI is superimposed.
Nota Keluaran
Added linreg carrier mode.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.