The Positive Volume Index and Negative Volume Index from Dennis D. Peterson’s article can be easily implemented in the NeuroShell Trader by combining two of the over 800 built-in indicators. Although NeuroShell Trader already includes both the Positive Volume Index and Negative Volume Index, our included versions are based on a predefined window size instead of accumulating. Therefore all we have to do to get the same results as Mr. Peterson is combine our predefined versions with one of our powerful accumulating indicators:
To insert the indicators:
1. Select ‘New Indicator …‘ from the ‘Insert‘ menu.
2. Select the Basic category.
3. Select the Cumulative Sum indicator.
4. Set the Initial Value to 0 (zero).
5. Modify the Time Series parameter and select the Indicator button.
a. Select the Volume Category.
b. Select the Positive Volume Index and/or the Negative Volume Index.
c. Set the Summation Periods to 1 (one).
d. Press the Finish button (on secondary Indicator Wizard).
6. Press the Finish button (on primary Indicator Wizard).
You have just created a multiple (2) level indicator to recreate Mr. Peterson’s indicator. This is just an example of how easy it is to create multiple level indicators. Once on the chart you can create Simple Moving Averages of these indicators of lengths (127 and 255) as Mr. Peterson suggests. You can even create them at the same time, or optimize them with the NeuroShell Trader Pro or DayTrader Pro.
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