An accumulation/distribution indicator that builds volume up along the direction of each tick. By sorting every trade into uptick or downtick using a minimum tick value, it exposes the intraday demand imbalance that a close-only view misses.
The Trade Volume Index (TVI) is an accumulation/distribution indicator that builds volume up tick by tick, following the direction of each price move.
Where OBV looks only at the daily close and assigns a whole day's volume entirely to the plus side or the minus side, TVI works on a much finer scale. It examines each tick (each trade) printed during the session, asks whether it traded above or below the prior tick, and decides on that basis whether the volume goes into the accumulating side or the distributing side.
What TVI measures, then, is the imbalance inside the trading: whether volume is entering on upticks (trades lifting the price) or on downticks (trades hitting the price down).
Is aggressive buying pushing the price up as it fills, or is selling working off volume while pressing the price lower? TVI accumulates the direction of force at the point of execution, not the outcome printed at the close.
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