indicator · own pane · open source
Price Volume Trend
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About
Price Volume Trend (PVT) is the cumulative sum of volume × %change — similar to OBV but weights each bar's volume by the percent change in price.
- Rising PVT = price moves being confirmed by ongoing participation.
- Falling PVT while price rises = warning that the rally is on thin volume.
Source code
//@version=5
indicator("Price Volume Trend", overlay=false)
pvt = ta.cum(volume * ta.change(close) / close[1])
hline(0, "Zero", color=color.gray)
p_PVT = plot(pvt, "PVT", color=color.blue, linewidth=2)
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