PVO – indicator for MetaTrader 5

Indicator PVO (Percentage Volume Oscillator) represents a momentum for the volume. It calculates the difference in the percents of large MA between two moving averages based on volumes.

It has ten configurable parameters:

  • Show histogram – whether to show the histogram (Yes/No);
  • Show PVO – whether to show the PVO line (Yes/No);
  • Show Signal – whether to show the signal line (Yes/No);
  • Fast MA period – fast MA calculation period;
  • Fast MA method – fast MA calculation method;
  • Slow MA period – slow MA calculation period;
  • Slow MA method – slow MA calculation method;
  • Signal period – signal line calculation period;
  • Signal method – signal line calculation method;
  • Calculation mode – calculation mode:
    • Absolute – in absolute values;
    • Relative – in relative values.
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Calculations:

Signal = MA(PVO, Signal period, Signal method)
Histogram = PVO - Signal

Calculation mode Absolute:

PVO = ShortMA - LongMA

Calculation mode Relative:

PVO = (FastMA - SlowMA) / SlowMA

where:

FastMA = MA(Volume, Fast MA period, Fast MA method)
SlowMA = MA(Volume, Slow MA period, Slow MA method)

Volume – tick volume

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