The «Price Volume Trend» indicator belongs to the class of market volume indicators. However, in contrast to the «Balance Volume», the PVT value is calculated not only on the basis of trading volume data, but also on the basis of the values of price dynamics for the considered period. To calculate the PVT value, the market volume in the current period is multiplied by the relative price change (usually the «Close» price) over the past period, and the resulting value is added to the previous value of the indicator itself.
The formula of the indicator calculation:
The indicator view in the chart.
The indicator has the following parameters:
Panel/Moving average period - selection of the indicator location in the chart:
- New panel
Bottom Band, Top Band, Middle Band
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Up arrow
- Down arrow
- Axis label
Line style - setting of the line display style:
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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