THIS PRODUCT IS FOR TRADESTATION 9. Trade Volume Index indicator and user function and paint bar for Tradestation . This Indicator was conceptualised forex overbought oversold strategy definition Steve B Achelis and is a remarkable piece of ingenuity. Trade volume index makes its calculation from both volume and price in a combined algorithm which is remarkably elegant in its design.
The TVI is designed to be calculated using intraday tick price data. The TVI is based on the premise that trades taking place at higher “asking” prices are buy transactions and trades at the lower “bid” price prices are sell transactions. When prices create a flat resistance level and the TVI is rising, look for a breakout to the upside. When prices create a flat support level and the TVI is falling, look for prices to drop below the support level. The raw indicator in its original for is the best one to use for tick data studies. If length are smoothing are both set to 1 it plots the raw indicator in its original form as designed by Mr Steve Achelis.
Why do you need this indicator? Then set length to 7 and smoothing to 4, notice the clarity of trend definition. Generally, one can filter buy signals which are not validated by the rising TVI line. You will receive the indicator shortly after. The trends are highlighted by the TVI show whether prices are being distributed or accumulated.
Trade Volume Index adds an extra dimension to your trading signals. To summarise in plain words, the TVI indicator, function and paint bar study is a valuable addition to the tool kit of any trader from novices to seasoned professionals, as well as a useful confirmation of buying or selling to add into system signals. You must have volume data for Trade Volume Index to function. If there is no volume data, then TVI will not return a value.
Created to provide trade timing signals by Precision Trading Systems in 2009, a consensus indicator which has some powerful improvements and differences to other industry standard oscillators. At first glance to the untrained eye it would appear like another other oscillator, but when testing it side by side comparing system performance the true power of this excellent indicator begin to emerge. This collection of user functions and indicators below have been carefully assembled to provide a versatile tool kit for the advanced trader. Some have been coded by myself while others are the work of some of the best technicians worldwide. If you need any indicator, functions or systems coded into Easy Language, Ninja trader, MT4 or Metastock format, then feel free request it. An oscillator that measures the exact mathematical probability of one moving average being greater than another.