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Price and Volume Trend (PVT)
Price and Volume Trend (PVT) is indicator in technical analysis which relates price and volume. PVT is similar to on balance volume indicator just cumulating of volume is adjusted by changes of closing prices.
Price and volume trend is calculated by formula:
Interpretation
The indicator value is not as important as important is direction of its movement. Increased trading volume indicates that a lot of money is invested in the security so increase of price is expected. If growing value of the indicator is seen off with increasing price of security, upward trend is confirmed. However, decline of indicator's value while price is increasing, indicates the possible trend reversal.
Example
Open chart for google with price and volume trend indicator.