Negative Volume Index is a custom MT4/MT5/cTrader indicator coded by EarnForex.com. It is based on the technical indicator created by Dysart and Fosback.
It calculates and displays the price change only for bars with negative volume change. It works with tick volume, but can use real volume in MT5.
Its main purpose is to confirm trend strength and anticipate reversals.
More information about this custom MetaTrader and cTrader indicator is available here: https://www.earnforex.com/metatrader-indicators/Negative-Volume-Index/
Any contributions to the code are welcome!