Price and Volume Trend

The Price and Volume Trend (PVT) Indicator is similar to the On Balance Volume (OBV) Indicator, and is used to measure the strength of a trend. While OBV adds all volume on days when prices close higher and subtracts all volume on days when prices close lower, PVT adds or subtracts only part of the daily volume.

Price and Volume Trend

Chart courtesy of Prophet Financial Systems (www.prophet.net)