Positive Volume Index Formula (Chart Controls)

  • Article

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.

Sample plot of the positive volume index

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

Concepts

Financial Formulas
Applying Formulas