Abbreviation: PosVolIndex ExpAvg Diff
Category: Volume: Smoothed
Input Parameters:
| Name | Range | Default |
| Closing Price | Close | |
| Volume | Volume | |
| ExpAvg1 Periods | Int >= 1 | 5 |
| ExpAvg2 Periods | Int >= 1 | 10 |
Calculation:
ExpAvg(X, ExpAvg1 Periods) – ExpAvg(X, ExpAvg2 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 quantify movements in the Positive Volume Index indicator by calculating the difference between two moving averages. Since it uses exponential moving averages (which give more importance to the most recent periods than to less recent periods), the indicator tends to focus more upon movement occurring in the most recent periods.