Studies · Volume

Positive Volume Index (PVI)

positiveVolumeIndex · Fosback's index compounding returns on higher-volume bars

Drawn in its own panelReads volume

Hover the chart to read values · practice data: a seeded random walk with no overnight gaps

What it measures

The twin of the Negative Volume Index: it only moves on days when volume rose, compounding that day’s price change. The idea is that this follows the crowd.

How traders use it

• The same rule as NVI: PVI above its one-year moving average is read as a bullish backdrop.
• Compared with NVI to see which kind of trading is leading.

Parameters

Name	Value	Default	Allowed	What it does
start		1000	any usual 100–10000	The value the index starts at. It only sets the scale.