Price Volume Trend Indicator
Forex BUY and SELL signals from the best price volume indicator. Find out the overbought and oversold levels.
Description
The Price Volume Trend Indicator is an MT5 indicator belonging to the oscillator family. Like RSI or Stochastic, it fluctuates between certain levels. The indicator calculates the price based on the volume. It draws one blue line and fluctuates between positive and negative levels.
When the indicator is close to a negative level, it is in the overbought zone. On the other hand, when the indicator is close to a positive level, it indicates an oversold zone.
The indicator works best on longer timeframes as it can give false signals on shorter timeframes.
Price Volume Trend Indicator BUY/SELL signals
The GBP/USD M30 chart below shows the BUY and SELL signals for the indicator. To identify BUY and SELL signals, traders need to look at overbought and oversold levels. The indicator shows the overbought zone when the PVTA signal line is close to positive. Here, traders can enter short positions or exit long positions.
Conversely, when the PVTA signal line is close to a positive level, the indicator indicates an oversold zone and traders can open long positions. Traders can also apply the indicator with other indicators such as the moving average or other oscillators such as the RSI or MACD to further confirm the signal.
Conclusion
The Price Volume Trend indicator works like any other oscillator and shows overbought and oversold levels, indicating BUY and SELL signals. In addition, you can download the price volume indicator for free from our website.