Studies · Volume
Trade Volume Index (TVI)
tradeVolumeIndex · Tick-direction volume accumulation (needs the instrument tick)
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
A running total of volume like OBV, but a bar only changes direction when the close moves by more than a minimum amount. A bar that barely moves keeps adding volume in the last direction.
How traders use it
- Meant for intraday data, to read whether volume is trading at the bid or the ask over time.
- Divergence and trend confirmation, as with OBV.
Parameters
| Name | Value | Default | Allowed | What it does |
|---|---|---|---|---|
| minTick | 0.01 | any | The smallest price move that counts as a change of direction, usually the instrument’s minimum tick. |