TVI – indicator for MetaTrader 5

Oscillator TVI (Trade Volume Index) shows whether a security is being accumulated (bought) or distributed (sold).

It has one input parameter:

  • Minimum tick value – the minimum tick value.

Calculations:

  • If the difference between the current price and yesterday’s index exceeds the minimum threshold volume, we consider the security to be bought;
  • If the difference between the current price and yesterday’s index is lower than the negative minimum threshold volume, we consider the security to be sold;