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Indicators

Price and Volume Trend (PVT) - indicator for MetaTrader 5

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Published:
2010.01.26 11:21
Updated:
2016.11.22 07:32
pvt.mq5 (3.37 KB)view

Price and Volume Trend (PVT) indicator, like On Balance Volume (OBV), represents the cumulative sum of trade volumes calculated considering close price changes.

The calculation algorithm is close to that of the indicator OBV. But in OBV we add the whole daily volume to the current indicator value when close prices are higher, and detract the whole volume when close prices are lower, while in PVT we add or detract just a part of daily volume. The exact part of the volume to be added to PVT is determined by the value of price change relatively to the close price of the previous day.

In OBV, the cumulative total volumes for each period are summed. However, in PVT, the volume is multiplied by the coefficient that depends on the difference between the current close price and the previous one.

Price and Volume Trend indicator

Price and Volume Trend indicator

Calculation:

PVT calculates by multiplying the current volume to the relative price change with its further addition to the current cumulative PVT value.

PVT (i) = ((CLOSE (i) - CLOSE (i - 1)) / CLOSE (i - 1)) * VOLUME (i) + PVT (i - 1)

where:

  • CLOSE (i) - close price of the current bar;
  • CLOSE (i - n) - close price of the previous nth bar;
  • VOLUME (i) - volume of the current bar;
  • PVT (i) - the current value of PVT indicator;
  • PVT (i - 1) - the value of PVT indicator of the previous bar.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/45

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