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Creator: Paul Dysart
Negative Volume Index (NVI) is a volume-based indicator. It calculates the volume
NVI indicator will change only when the volume has decreased. Thus, if the volume is high, there will be no change in the indicator.
The NVI indicator believes that smart money will accumulate and those moves will happen with less volume. The rest of the crowd will come later.
NVI indicator above the average line is bullish and it shows the strong trend in action.
The indicator table value in TradePoint & RZone also provides you with a list of all values of this indicator for any group of stocks. This will allow you to compare the readings of this indicator across different stocks.
The indicator is applicable to all types of charting. Calculated based on the number of columns on P&F charts, bricks on Renko charts, lines on Line-break charts, candles on Heikin ashi charts, and lines on Kagi charts. While the formula and reading of the indicators remain the same, they become more dynamic on these charts.
This indicator is also available in the System Builder of RZone & TradePoint for all charting methods. Using the system builder, you can develop various strategies based on the different conditions already present in this indicator. Additionally, it can be used with other indicators or price patterns to develop effective trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.