The AIQ code based on Vitali Apirine’s article in S&C, “The Slow Volume Strength Index,” is provided for download from the following website:
!THE SLOW VOLUME STRENGTH INDEX !Author: Vitali Aiprine, TASC April 2015 !Coded by: Richard Denning 6/10/2015 !www.TradersEdgeSystems.com !INPUTS FOR INDICATOR: emaLen is 6. wilderLen is 14. !INDICATOR FORMULAS: ema is expavg([close],emaLen). pDif is iff([close] - ema > 0,[volume],0). nDif is iff([close] - ema < 0,[volume],0). rsiLen is 2 * wilderLen - 1. AvgU is expavg(pDif,rsiLen). AvgD is expavg(nDif,rsiLen). svsi is 100-(100/(1+(AvgU/AvgD))). !PLOT
The code provided for the slow volume strength index (SVSI) may be plotted as an indicator, as shown in Figure 6.
FIGURE 6: AIQ. Here is the SVSI (6,14) indicator compared to the classic RSI (14).