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