indicator · own pane · open source
Negative Volume Index
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About
Negative Volume Index (NVI) updates only on down-volume days — emphasises the 'smart money' footprint when volume contracts.
- A long-term NVI moving average crossing its own short-term MA is a classic Wyckoff accumulation signal.
- Use it as a quiet confirmation filter rather than a primary trigger.
Source code
//@version=5
indicator("Negative Volume Index", overlay=false)
var float nvi = 100
prev = na(nvi[1]) ? 100 : nvi[1]
nvi := volume < volume[1] ? prev * close / close[1] : prev
p_NVI = plot(nvi, "NVI", color=color.blue, linewidth=2)
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