LogIn|SignUp TraderToolsStockScreenerStrategyBacktestStockQuoteStockChartPortfolioTrackerTradeAlertPriceAlertStockCorrelationWatchListsCurrencyScreenerCurrencyBacktestCurrencyCorrelation ActiveTradingMovingAveragesOscillatorsTrendIndicatorsLineStudiesChartPatternsChannelsVolatilityRelativeStrengthFinancialStrengthIchimokuPriceActionVolumeBasicFundamentalOperatingMetricsFinancialRatiosToIndustryRatiosDividendIntheSpotlightMarketBreadthCryptocurrency InvestingValueInvestingGrowthInvestingIncomeInvestingDogsoftheDowGrowthLeaders HelpHelpTopicsFAQWhat'sNewEducationArticlesContactUs TradeVolumeIndex(TVI)TRADEVOLUMEINDEXOverviewTheTradeVolumeIndex("TVI")showswhetherasecurityisbeingaccumulated(purchased)ordistributed(sold).TheTVIisdesignedtobecalculatedusingintraday"tick"pricedata.TheTVIisbasedonthepremisethattradestakingplaceathigher"asking"pricesarebuytransactionsandtradesatlower"bid"pricesareselltransactions.InterpretationTheTVIisverysimilartoOnBalanceVolume.TheOBVmethodworkswellwithdailyprices,butitdoesn'tworkaswellwithintradaytickprices.Tickprices,especiallystockprices,oftendisplaytradesatthebidoraskpriceforextendedperiodswithoutchanging.Thiscreatesaflatsupportorresistancelevelinthechart.Duringtheseperiodsofunchangingprices,theTVIcontinuestoaccumulatethisvolumeoneitherthebuyorsellside,dependingonthelastpricechange.TheTVIhelpsidentifywhetherasecurityisbeingaccumulatedordistributed.WhentheTVIistrendingup,itshowsthattradesaretakingplaceattheaskingpriceasbuyersaccumulatethesecurity.WhentheTVIistrendingdown,itshowsthattradesaretakingplaceatthebidpriceassellersdistributethesecurity.WhenpricescreateaflatresistancelevelandtheTVIisrising,lookforpricestobreakouttotheupside.WhenpricescreateaflatsupportlevelandtheTVIisfalling,lookforpricestodropbelowthesupportlevel.ExampleThefollowingchartshowsIBM'stickpricesandTVI.Duringthe45minutesleadinguptothepointlabeled"A,"priceswerelockedinatightrangebetweenthebidpriceof691/4andtheaskingpriceof693/8.Duringthissameperiod,theTVIwastrendingup