TVI Breakout Indicator

Description

TVI Breakout Indicator : A Powerful Trading Tool

Overview

The TVI (Tick Volume Indicator) is a unique oscillator developed by William Blau in 1995. Unlike traditional indicators that rely on price data, the TVI calculates tick density. It provides valuable insights for traders, including entry points, trend direction, and overbought/oversold conditions.

Key Features:

• Calculation Formula: TVI = 100 * ((DEMA (upticks) – DEMA (downticks)) / (DEMA (upticks) + DEMA (downticks)))
• Purpose: Determine entry and exit points, trend direction, and overbought/oversold signals.

Trading Strategy:

1. Color Change Signal:
   • Buy Signal: When the TVI bar changes from red to blue during a bullish trend, it’s time to buy. The price may continue rising within the overall bullish trend.
   • Sell Signal: If the TVI bar changes to red during a downtrend, consider selling. The price may extend its decline.
2. Basic Line Trend Determination:
   • The basic line of the indicator indicates the overall trend:
     • Crossing zero level below: Trend reversal downwards.
     • Crossing zero level above: Trend switches to bullish.
   • Market trend direction is shown in the top-left corner of the indicator window.
3. Market Divergence and Convergence:
   • Divergence (right apex below left apex): Signals a coming downward reversal.
   • Convergence (right apex above left apex): Indicates an upward reversal soon.

Implementation Details:

• Timeframe: Suitable for various timeframes (e.g., H1, H4, or daily).
• Currency Pairs: Works well with major currency pairs (e.g., EUR/USD, GBP/USD, USD/JPY).

Download and Resources:

• Indicator Download: You can download the TVI Breakout Indicator for MT4 from our website: YoForex.org
• Join Our Telegram: Stay updated with trading tips and signals by joining our Telegram channel: YoForexRobot

🔔😎Happy Trading😎🔔