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The Trade Volume Index (TVI) is a similar index to the On Balance Volume in that it attempts to show accumulation (purchases) or distribution (sales) of a given stock. If the TVI is trending up, it indicates that buyers are in control. If the TVI is trending down, it indicates that sellers are in control. The TVI is used preferentially to OBV for intraday data.
The Trade Volume Index is calculated by adding each day's trading volume to a cumulative total when the TVI is in an 'accumulation period' (caused by the price rising by a specified amount) and subtracting each day's trading volume when the TVI is in a 'distribution period' (caused by the price falling by the same amount). The TVI requires a single parameter which is the dollar amount required to change from an accumulation period to a distribution period.
