Price Volume Trend Indicator for MT5

Introduction to the Price Volume Trend Indicator

The Price Volume Trend indicator reveals price trend as well as volume. It works in a similar manner to the standard On Balance Volume (OBV) indicator.

The amount of the volume that needs to be added to the most recent value is determined by the value of price change (spike or drop) relatively to the close price of the previous day.

The indicator is displayed in a separate window placed just below the main trading chart.

It fits all kinds of timeframes and currency pairs.

The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

The formula for the Price Volume Trend indicator:

The calculations of the Price Volume Trend indicator are based on the following formula:

PVT = ((Close – Close(-1)) / Close(-1)) * TickVolume + PVT(-1)

Analysis of indicator values is comparable to average On Balance Volume and Accumulation/Distribution (AD).

How to use the Price Volume Trend indicator:

When the crimson line of the PVT indicator continues to go higher, volume is said to be on the increase. It does not mean a bullish signal, but rather an increased volume of preferred direction (upward or downward) that should be confirmed by another technical analysis gauge. When the crimson line of the PVT is falling, it means the volume is also on the decrease, and a potential reversal is underway.

We do not recommend using that gauge as a standalone trading tool. Rather use it in conjunction with some other technical analysis forex indicators.

How to set up the Price Volume Trend indicator in MT5?

Installation Guide

Copy and paste the PVT.mq5 or PVT.ex5 indicator files into the MQL5 folder of the Metatrader 5 trading platform.

You can gain access to this folder by clicking the top menu options, which goes as follows:

File > Open Data Folder > MQL5 > Indicators (paste here).

Now go to the left side of your MT5 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Bottom Line

The Price Volume Trend indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.

Price Volume Trend Indicator Free Download

To download the Price Volume Trend Indicator for Metatrader 5 (MT5) for free just click the button below:

Price Volume Trend Indicator Free Download


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