PVI (Function)

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The PVI series function determines the Positive Volume Index. PVI is a cumulative value (starting from 100) that is calculated by adding the percent change of the Close (from the prior bar) to the prior bar PVI value if the volume of the current bar is greater than the volume of the prior bar. Since this is an accumulative calculation, the function must be a series function to ensure it is called on every bar.

Syntax

PVI

Returns (Double)

A numeric value for PVI based on the current bar type. Uses volume for Daily, Weekly, or Monthly bars. Other bar intervals uses ticks.

Parameters

None

Reference

Norman G. Fosback, Stock Market Logic, Dearborn Financial Publishing, Inc., 1976, 1993