OPEN-SOURCE SCRIPT
Negative Volume Index Oscillator [ZOM]
Negative Volume Index Oscillator [ZOM] (NVI Oscillator) is a momentum-based indicator designed to highlight underlying market activity by focusing on periods of declining volume. Built around the classic Negative Volume Index (NVI), this tool transforms the raw data into a normalized oscillator, making it easier to interpret shifts in trend, momentum, and potential reversals.
The oscillator measures the deviation of smoothed NVI from its long-term average, presenting this relationship as a percentage-based value centered around a zero line. This allows traders to quickly identify whether price action is supported by quieter, more “informed” market participation, which is often associated with institutional positioning.
A configurable signal line is included to help identify momentum shifts through crossovers and crossunders. These interactions can be used to spot early trend changes or confirm continuation depending on market context.
To provide additional structure, the indicator includes optional volatility bands derived from standard deviation. These bands help identify statistically stretched conditions where price may be overextended, increasing the likelihood of mean reversion or consolidation.
The script also features built-in divergence detection, comparing oscillator movement to price action. Bullish and bearish divergences are automatically identified, offering early warning signals of potential reversals when momentum and price begin to disagree.
Key features include:
- Oscillator derived from smoothed Negative Volume Index
- Signal line with multiple moving average options
- Volatility bands for identifying extreme conditions
- Histogram visualization for momentum strength
- Automatic bullish and bearish divergence detection
- Crossover and crossunder markers for signal clarity
- Fully customizable smoothing, lengths, and visual settings
This indicator is designed to complement price action analysis by providing a deeper view into momentum behavior during low-volume conditions, helping traders identify potential turning points and confirm trend strength.
The oscillator measures the deviation of smoothed NVI from its long-term average, presenting this relationship as a percentage-based value centered around a zero line. This allows traders to quickly identify whether price action is supported by quieter, more “informed” market participation, which is often associated with institutional positioning.
A configurable signal line is included to help identify momentum shifts through crossovers and crossunders. These interactions can be used to spot early trend changes or confirm continuation depending on market context.
To provide additional structure, the indicator includes optional volatility bands derived from standard deviation. These bands help identify statistically stretched conditions where price may be overextended, increasing the likelihood of mean reversion or consolidation.
The script also features built-in divergence detection, comparing oscillator movement to price action. Bullish and bearish divergences are automatically identified, offering early warning signals of potential reversals when momentum and price begin to disagree.
Key features include:
- Oscillator derived from smoothed Negative Volume Index
- Signal line with multiple moving average options
- Volatility bands for identifying extreme conditions
- Histogram visualization for momentum strength
- Automatic bullish and bearish divergence detection
- Crossover and crossunder markers for signal clarity
- Fully customizable smoothing, lengths, and visual settings
This indicator is designed to complement price action analysis by providing a deeper view into momentum behavior during low-volume conditions, helping traders identify potential turning points and confirm trend strength.
开源脚本
秉承TradingView的精神，该脚本的作者将其开源，以便交易者可以查看和验证其功能。向作者致敬！您可以免费使用该脚本，但请记住，重新发布代码须遵守我们的网站规则。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。