PVT (Price Volume Trend)¶
What it shows: a running total of volume multiplied by each candle's percent price change.
How people use it: like OBV but weighted by how big the move was. Rising confirms an uptrend.
Pairs well with: price signals, as volume confirmation.
Settings¶
| Setting | Default | What it does |
|---|---|---|
| Lookback (bars) | 5 | How many candles back "rising" and "falling" compare with. |
You set the defaults on the Indicators page.
Ready-made conditions¶
| For | Condition | Fires when |
|---|---|---|
| Buy | PVT rising (vs 5 bars ago) | every candle PVT is higher than 5 candles before |
| Sell | PVT falling (vs 5 bars ago) | every candle PVT is lower than 5 candles before |
"Above", "below", "is" and "rising" / "falling" stay true on every candle the state lasts, so they can fire many candles in a row.
Warnings you may see¶
None specific to this indicator.
Good to know¶
- It is worked out from closing prices and volume. Because it uses volume, on On candle touch it reads the last closed candle (the forming candle's volume is not known yet).
- Only its direction matters, not its value.
- It needs no warm-up history: only its direction (compared with its own past) is used, which does not depend on where the data starts.