indicator · own pane · open source

Positive Volume Index

Deepwick · @deepwickv1Updated 2 Oct 2026▲ 0 users

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About

Positive Volume Index (PVI) updates only on up-volume days — emphasises the retail / crowd footprint when volume expands.

Pair with NVI: PVI up + NVI flat = healthy advance; PVI flat + NVI up = quiet accumulation.
The pair is the original 'volume confirms price' filter from the 1970s.

Source code

//@version=5
indicator("Positive Volume Index", overlay=false)
var float pvi = 100
prev = na(pvi[1]) ? 100 : pvi[1]
pvi := volume > volume[1] ? prev * close / close[1] : prev
p_PVI = plot(pvi, "PVI", color=color.blue, linewidth=2)

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