
Decision Point Intermediate-Term Volume Momentum Oscillator (ITVM)
Decision Point Intermediate-Term Volume Momentum Oscillator (ITVM) Compared to the shorter-term McClellan Volume Oscillator, the ITVM provides a distinct perspective on volumeCarl Swenl created the Intermediate Term Volume Momentum Oscillator (ITVM) to provide a fresh viewpoint on volume that is comparable to the ITBM (IT Breadth Momentum) Oscillator on breadth. Calculating ITVM Using a ratio of advancing volume to declining volume rather than advances and declines, the McClellan Volume Oscillator, from which the ITVM is generated, is computed in the same manner as the McClellan Advance-Decline Oscillator. In particular, divide the result by the NYSE Total Volume after deducting the NYSE Declining Volume from the Advancing Volume. Next, to work with whole numbers, multiply that value by 1000: (Total Vol / (Adv Vol - Decl Vol) * 1000) The remaining computations are the same as for the McClellan Oscillator and ITBM: compute a 20-day EMA by adding the daily McClellan Volume Oscillator (Ratio-Adjusted) to the daily 10% exponential average (Ratio-Adjusted). Decision Point Intermediate. Click here to see that in Details Interpreting ITVM The ITVM…