Abbreviation: PosVolIndex ExpAvg
Category: Volume: Smoothed
Input Parameters:
| Name | Range | Default |
| Closing Price | Close | |
| Volume | Volume | |
| ExpAvg Periods | Int >= 1 | 5 |
Calculation:
ExpAvg(X, ExpAvg Periods)
where
X = PosVolIndex: Raw(Closing Price, Volume)
PosVolIndex: Raw represents Positive Volume Index: Raw
ExpAvg represents Exponential Moving Average
Discussion:
This indicator attempts to smooth the Positive Volume Index indicator by calculating its moving average. Since it uses an exponential moving average (which gives more importance to the most recent periods than to less recent periods), the smoothing is influenced most by recent periods.