Tick Volume Indicator v2
Author:MaryJane (2011.12.19 12:19)
mq435 Tick Volume Indicator v2 TVI_v2.mq4 (8.5 Kb) View

History as well as formula:

The Tick Volume Indicator was invented by William Blau as well as has been published in his book “Momentum, Direction as well as Divergence” (1995, page 43).

The indicator starts with separating a upticks as well as downticks in any cost bar. The ensuing arrays have been smoothed with DEMA (two-pass EMA with durations r as well as s subsequently). The tender TVI is distributed with a following formula:

DEMA(upticks) – DEMA(downticks)

TVI_Raw = 100 * ———————————

DEMA(upticks) + DEMA(downticks)

… as well as a last TVI figure is finished by one some-more EMA smoothing with a duration of u.


Besides regulating TVI for divergence, we have found a shift of TVI slant to be a really utilitarian as well as accurate substitute for shift in cost direction, generally in durations of tall sensitivity in reduced timeframes.

Other MQL4 versions:

The indicator was implemented in MQL4 by Profitrader most years ago, regulating all accessible buffers for calculations as well as plotting a singular line. we have found a couple of colored histogram versions opposite a Net, all of them called a tvi.mq4 around iCustom() as well as all repaint since of bad coding. So we motionless to have myself a correct stand-alone histogram variant. 7 local buffers as well as 6 additional buffers (via arrays) have been used. It will never repaint.

TVI Tick Volume Indicator v2


  • r, s as well as u have been a smoothing durations (see above). Try 21/21/8 for slower mode.
  • To censor a histogram as well as usually operate a line, set colors 1-4 to None.
  • To censor a line as well as usually operate a histogram, set tone 5 to None.
  • BarCount is required for form dimensioning as well as changeable (done once per bar).
  • If we need to see some-more history, enlarge BarCount (default = 500).
  • Alerts (if allowed) will be finished upon specified AlertCandle (0=current, 1=last closed, 2=previous closed, ect).
  • For promulgation alerts per email, mention a AlertEmailSubject.



Rating: 9 out of 10 (from 18 votes)