Price volume trend
A running cumulative total similar to OBV, but weighted by the percentage price change each period rather than adding or subtracting full volume — so large price moves count more.
What the numbers mean
Nothing to set — this one is read straight off price or volume, with no lookback period or multiplier behind it.
How it is used
Used like OBV but with more nuance, since each bar's volume is weighted by how much price actually moved rather than counted in full. Divergence against price is the main reading.
- Divergence against price → the main reading
- Slope → whether volume-weighted flow is building or draining
- Confirming a breakout → the move has proportional volume behind it
How it relates to everything else
PVT is OBV with proportional weighting: instead of adding the whole bar's volume, it adds the share corresponding to the percentage price change. That makes it less prone to the distortion where a tiny up-close credits an enormous volume day entirely to buyers.
- OBV weighted by percentage move
- Cumulative, so only slope and divergence carry meaning
- Compare against OBV; disagreement points to small closes on big volume
What to watch for
It is a cumulative total, so its absolute value depends entirely on the starting bar; only the slope and the divergences carry meaning.