"Price Polarity of Positive & Negative Volume Index" is a custom indicator. In general, this indicator smooths price polarity for bullish and bearish sentiment, using the positive volume with price confluence into negative volume size.
In other words, when the indicator value is above the zero level, the bar sentiment is bullish. Likewise, when the indicator value is below the zero level, the bar sentiment is bearish.
In another way, this custom indicator is a synthetic price smoothing method using volume.
This indicator is developed based on my mentor Iba's documentation.
- Type: Free
- Language: C#
- Trading Platform: cTrader Automate
- Filename: mPNVIpol.algo
- Rating: 5
- Installs: 172