price and volume trend (pvt)
Info
The price and volume trend (pvt) is a Indicator for MetaTrader 4 that indicator price and volume trend (pvt) is a tool that calculates the cumulative sum of trade volumes based on close price changes, similar to the on balance volume (obv) indicator. the pvt calculation method is comparable to obv, but with a key difference.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use price and volume trend (pvt)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
indicator price and volume trend (pvt) is a tool that calculates the cumulative sum of trade volumes based on close price changes, similar to the on balance volume (obv) indicator.
Typical Use Case
This Indicator excels in trend following on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: Institutional Ehlers Fisher Transform: Advanced Price Normalization for MT4 - another powerful indicator for MetaTrader 4 traders.
indicator price and volume trend (pvt) is a tool that calculates the cumulative sum of trade volumes based on close price changes, similar to the on balance volume (obv) indicator.Also recommended: i market price 2.1 - real-time price information indicator - similar indicator with strong performance on MetaTrader 4.
the pvt calculation method is comparable to obv, but with a key difference. in obv, the entire daily volume is added or subtracted based on whether the close price is higher or lower than the previous day. in contrast, pvt adds or subtracts only a portion of the daily volume, determined by the price change relative to the previous day's close.
while obv sums the cumulative total volumes for each period, pvt multiplies the volume by a coefficient that depends on the difference between the current and previous close prices. this results in a close correlation between the behaviors of the two indicators, as illustrated in the following image:
You may also like: horizontal volume - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 1
#property indicator_color1 dodgerblue
extern int extpvtappliedprice = 0;
double extpvtbuffer[];
int init()
{
string sshortname;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.