Syntax
public NVI(Bars ds, string description)
public static NVI Series(Bars ds)
Parameter Description
| Bars |
The symbol's Bars object |
Description
NVI (Negative Volume Index) from the April 2003 issue of
Stocks & Commodities magazine.
The Negative Volume Index was created by Norman Fosback, and its purpose is to expose where "smart money" investment action is occurring. The assumption is that smart money, mostly floor traders, will produce moves in price with less volume than the rest of the crowd.
See also:
PVIInterpretation
Fosback compared the NVI with its one year (255 bar) moving average. When NVI is above the moving average, he calculated that there is a 96% chance that a bull market is in progress, and when it is below the average a 53% chance of a bear market.
Example