What it does
The Trade Volume Index (TVI) accumulates volume as buying or selling based on the direction of each price change, and is designed for intraday tick or minute data where prices move in small increments. When price ticks up by more than a minimum tick threshold, volume is added; when it ticks down by more than the threshold, volume is subtracted; within the threshold, the previous direction is assumed to continue. The running total approximates whether trades are hitting the offer (accumulation) or the bid (distribution).
How to add it
Click Indicators (ƒx) in the header.
Search “Trade Volume Index” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- A rising TVI during a flat price consolidation suggests buyers are absorbing supply at the ask, hinting the range will resolve upward.
- Use it to confirm intraday breakouts: a breakout with TVI accelerating in the same direction shows real order flow behind it.
- Divergence, such as price grinding higher while TVI declines, warns that upticks are occurring on shrinking traded volume.
- It is intended for tick and very short intraday charts of instruments with fixed tick sizes; it loses meaning on daily bars.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Min Tick | number | 0.5 | 0.01–10 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| TVI | line | #009688 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 0 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- The pane keeps its height in saved layouts, so size it once and it survives reloads.
- Resize the pane by dragging its divider; collapse it from the legend row when you need the space back.
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
Watch out for
- The tick-direction rule is only a proxy for true bid/ask classification, so trades at unchanged prices and fast markets get misattributed.
- It requires granular intraday volume data and a sensible tick-size setting; wrong settings or aggregated data make the line unreliable.