The Slow Volume Strength Index

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.
Sample Chart

FIGURE 6: AIQ. Here is the SVSI (6,14) indicator compared to the classic RSI (14).
—Richard Denning
info@TradersEdgeSystems.com
for AIQ Systems

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