Price and Volume Trend (PV T)
Info
The Price and Volume Trend (PV T) is a Indicator for MetaTrader 5 that price and volume trend (pvt) indicator, like on balance volume (obv), represents the cumulative sum of trade volumes calculated considering close price changes. The calculation algorithm is close to that of the indicator OBV.
Usage
This tool is typically used for trend following strategies across multiple currency pairs.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Price and Volume Trend (PV T)
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
Price and Volume Trend (PVT) indicator, like On Balance Volume (OBV), represents the cumulative sum of trade volumes calculated considering close price changes.
Typical Use Case
This Indicator excels in trend following on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Price Channel - another powerful indicator for MetaTrader 5 traders.
Price and Volume Trend (PVT) indicator, like On Balance Volume (OBV), represents the cumulative sum of trade volumes calculated considering close price changes.
Also recommended: Institutional Harmonic Volumetric Gravity Center - similar indicator with strong performance on MetaTrader 5.
The calculation algorithm is close to that of the indicator OBV. But in OBV we add the whole daily volume to the current indicator value when close prices are higher, and detract the whole volume when close prices are lower, while in PVT we add or detract just a part of daily volume. The exact part of the volume to be added to PVT is determined by the value of price change relatively to the close price of the previous day.In OBV, the cumulative total volumes for each period are summed. However, in PVT, the volume is multiplied by the coefficient that depends on the difference between the current close price and the previous one.
Price and Volume Trend indicator
Calculation:
PVT calculates by multiplying the current volume to the relative price change with its further addition to the current cumulative PVT value.
PVT (i) = ((CLOSE (i) - CLOSE (i - 1)) / CLOSE (i - 1)) * VOLUME (i) + PVT (i - 1)
where:
CLOSE (i) - close price of the current bar;
CLOSE (i - n) - close price of the previous nth bar;
VOLUME (i) - volume of the current bar;
PVT (i) - the current value of PVT indicator;
PVT (i - 1) - the value of PVT indicator of the previous bar.
You may also like: Institutional Kinematic Price Physics (Velocity and Acceleration) - excellent alternative for indicator users on MetaTrader 5.
⚠ 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.