Price Volume Trend
Also known as Volume Price Trend. This indicator consists of a cumulative
volume that adds or subtracts a multiple of the percentage change in price trend and current volume, depending upon their upward or downward movements. PVT is used to determine the balance between a stock’s demand and supply. This indicator shares similarities with the On Balance Volume index.
The Price and Volume Trend index generally precedes actual price movements. The premise is that well-informed investors are buying when the index rises and
uninformed investors are buying when the index falls.
set PVT = PVT(CLOSE)
plot(PVT, line, red, PVT)