DonovanWall

Dual Volume Divergence Index [DW]

This is an experimental variation of Paul L. Dysart's Positive Volume Index and Negative Volume Index that tracks the divergences between the PVI and its EMA , and the NVI and its EMA , then plots both together for comparison.

This tool can be used to identify trending price activity.
Sürüm Notları: Simple update:
Added custom bar colorization.
Sürüm Notları: Simple update:
Updated color scheme based on PVI and NVI divergence strength.
Sürüm Notları: Updates:
Added optional smoothing to the script using an exponential moving average to filter noisy outputs.

Added a mode selection with three modes to choose from:
- Dual Index Mode, which displays the original DVDI
- Oscillator Mode, which displays the difference between the PVDI and NVDI as a centered oscillator
- Bar Counter Mode, which displays the number of bars in which volume divergence is in a positive dominant phase and negative dominant phase
Sürüm Notları: Updates:

Migrated code from pine v2 to pine v3.

Added a source price input.

Added an option to use tick volume rather than real volume. If the chart being analyzed has no real volume component, use tick volume.

Condensed DVDI's operations into a singular function for optimized performance.

Fixed a small issue with the bar counter.

Mode selection is now an easy to use dropdown menu.

Color schemes have been updated for greater detail.
Sürüm Notları: Updates:

-> Migrated to v4.
-> Updated DVDI function.
-> Corrected NaN values to stabilize initial conditions.
-> Reorganized script structure.
-> Revamped color scheme.
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Yorumlar

Nice script, any chance you want to add price bar colorization? Thanks for sharing!
+3 Cevap Gönder
Nice thank you
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wow, going in oscillator mode and playing around with the settings for different kind of trades on various timeframes looks very promising. I think i found a new favourite swing trading tool. THANK YOU
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Tommy_bnks Tommy_bnks
@Tommy_bnks, it makes it much easier to spot divergences/weakness in uptrends. I combine it with my own frankenstein indicator
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NVI - (x - nz(x)) : NVI in your function is the opposite of the original NVI, WHY?????
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@CSFS, It appears I fudged some details on my most recent update. Thanks for bringing it to my attention. I need to fix the calcs on the DVDI function. I'll put it on my to-do list. I have quite a bit in the works, but expect to see an updated patch within the next couple weeks.
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Thank you. But can you add a guide how to use this? ))
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Hello, thank you for this wonderful indicator! is there a way to learn more about how it works and how to apply it?
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Nice work on the amendments, thanks!
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Does this require Volume to Work or some other parameter? Its not showing up anything on my chart. Thanks and Interesting Work Pal!
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