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Price and Volume Trend

by Patrick Fonce, 3753 days ago
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Price and Volume Trend, also called PVT, is a technical analysis indicator that is similar to the On-balance Volume. While the On-balance volume adds up the volume value for each bar times 1 or -1 depending on whether the close is higher or lower than the previous close, the Price and Volume Trend adds up the volume value times the percentage change of the close price compared to the previous close.

The volume is added according to the daily return of the security price, thus the more the security price increases the more the PVT index value increases and the lower the daily return is the more the PVT index value decrease.

PVT interpretation is similar to the OBV. The more the PVT increase in value the more the bulls dominate the market and the more the PVT value decrease the more the bears are dominating the market. As with the OBV indicator, a divergence between the PVT and prices is a signal that the security is about to reach its tops (bearish divergence) or its bottoms (bullish divergence).

Price and Volume Trend indicator accepts one parameter. This parameter is a lookback value that defines the number of bars to use in the cumulative calculation. For example: PriceVolumeTrend(5), calculate the sum of the (perf(close, 1) * volume) formula for the last 5 bars.

If you want to use all the available bars for the cumulative sum, use a negative value for the lookback parameter. Example: PriceVolumeTrend(-1).


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Type: Trading Indicator

Object ID: 131


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