Price Volume Trend Indicator for MetaTrader 5 - Download - [TradingFinder]

The Price Volume Trend (PVT) indicator is a technical analysis tool in MetaTrader 5 that combines price data and trading volume to determine trend direction and strength.

This indicator is calculated by adjusting the current day's trading volume based on the percentage price change from the previous day and then adding or subtracting from the last value indicator.

Price Volume Trend Specifications Table

The general specifications of the Price Volume Trend indicator are presented in the table below:

Indicator Overview

The Price Volume Trend indicator detects divergences and convergences between the price chart and the indicator itself.

If the price forms new highs or lows but the indicator does not confirm the move, this discrepancy may signal a possible trend reversal.

Also, in the settings of the Price Volume Trend indicator, one can select the type of price (Close, Open, High, Low) based on the trading strategy.

Uptrend Conditions

The image below shows the 5-minute price chart of the Australian Dollar vs. the New Zealand Dollar (AUD/NZD).

When the price forms lower lows, but the PVT indicator shows higher lows, and simultaneously volume increases, this positive divergence signals a weakening downtrend and a potential uptrend reversal.

Downtrend Conditions

The following image displays the Gold Spot Index (XAU/USD) in the 15-minute time frame.

In this indicator, when the price forms lower lows during a downtrend and the indicator moves in the same direction, this alignment indicates convergence, confirming the strength of the downtrend.

Price Volume Trend Indicator Settings

The image below shows the settings panel of the Price Volume Trend indicator, where customization is possible through the "Type of Price" parameter, depending on your trading strategy:

• Type of Price: Defines the price type used (Close, Open, High, Low)

Conclusion

The Price-Volume Trend indicator combines percentage price change with volume data and serves as a tool for identifying market direction and trend strength.

This indicator also effectively detects divergences and convergences between price and volume.