Negative Volume Index
The Negative Volume Index function calculates a cumulative value based on days where the trading volume has decreased from the previous day. On days where the volume remained the same or increased, the NVI remains unchanged. Applications of NVI include indication of market trends. For example, a bull market may be indicated when the NVI rises above its one-year moving average.
The Negative Volume Index function requires the following input series:
- d0 - Volume data values - The first set of data values for which the Negative Volume Index is calculated, usually the daily volume for a stock.
- d1 - Price data values - The second set of data values for which the Negative Volume Index is calculated, usually the daily close price of a stock.
The Negative Volume Index function requires the following parameters:
- Alignment (Optional) – Hierarchy placeholder to be used as the alignment axis.
The Negative Volume Index function generates the following output:
- Negative Volume Index - The Negative Volume Index result set.