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Price Volume Trend

Price Volume Trend (PVT) is a variation on the On Balance Volume (OBV). It is used to determine the strength of trends and identify possible reversals. However, where OBV adds and subtracts all volume when prices are up or down, PVT adds/subtracts only a portion of the daily volume depending on how much prices rose or fell, relative to the day’s previous close.

This means the PVT will add a smaller portion of volume to an indicator when the price changes are by a small percent; however, it adds a larger portion of volume to the indicator when the price change is larger.