How it is calculated
A running total that adds (close minus previous close) divided by the previous close, times volume, every bar. It starts at 0 on the first bar, which has no change, so it has a value from the first bar. A previous close of 0 adds nothing rather than dividing by it.
Reference: Price volume trend
How to read it
The level depends on where the data starts; read the slope against price. A rising PVT confirms an uptrend, and a new price high without a new PVT high is a divergence. On forex the volume is tick volume.
In a strategy
As a trend filter: compare ctx.ind("pvt") with its value some bars earlier and only take longs while it rises.
Inputs
It takes no inputs.
What it draws
| Line | Drawn as |
|---|---|
| PVT | Line |
Used in
No strategy template reads it yet.