Positive Volume Oscillator (PVO) Indicator for MetaTrader 4 Download - Free

The Positive Volume Oscillator (PVO) is one of the practical tools among MetaTrader 4 oscillators. Like other oscillators, it analyzes market volume changes to predict price movements.

This tool displays two exponential moving averages (EMAs) with periods of 10 and 2 in the oscillator window.

Indicator Specifications Table

The specifications of this indicator are summarized in the table below:

Indicator in an Uptrend

In the image below, the price trend becomes bullish after the fast EMA crosses the slow EMA upwards.

Traders enter buy trades in these areas. Subsequently, when the lines cross downward again, indicating a shift to a bearish trend, traders exit their trades.

Indicator in a Downtrend

In the USD/CAD currency pair's current market trend, the price enters a bearish phase after the fast EMA crosses the slow EMA downward.

Traders open sell trades after receiving necessary confirmations from other technical analysis tools.

Positive Volume Oscillator Settings

The complete settings of the indicator are displayed in the image below:

• Smoothing Period for Positive Volume: This represents the slow EMA period
• EMA Period for Comparison: Represents the fast EMA period
• Theme: Background theme of the indicator

Conclusion

The Positive Volume Oscillator (PVO) is designed to analyze the relationship between trading volume and price. It is recognized as an effective tool for identifying bullish and bearish trends.

Traders can adjust their strategies based on volume analysis and price movements using other Trading Assist Indicators for MT4.