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PVT Normalized
Re: PVT Normalized

* To: metastock@xxxxxxxxxxxxx
* Subject: Re: PVT Normalized
* From: "Dan Harels" <harelsdb@xxxxxxxxxxx>
* Date: Sun, 29 Jul 2001 05:47:54 +0000
* Reply-To: metastock@xxxxxxxxxxxxx
* Sender: owner-metastock@xxxxxxxxxxxxx

From: Mikey <mtg1021@xxxxxxxxxxxxx>
Reply-To: metastock@xxxxxxxxxxxxx
To: metastock@xxxxxxxxxxxxx, Murat Kuntel <mkuntel@xxxxxxxx>
Subject: Re: PVT Normalized
Date: Sat, 28 Jul 2001 23:26:02 -0500

what is this indicator that you are talking about?? i must have missed it is there any way that you could share the details of it???

Murat Kuntel wrote:

Dan Harels,

Last month you graciously shared with us an indicator that you developed, a normalized PVT which you suggested works like Stochastics. I have been observing it since then and I like it very much. I noticed that at times it leads, and at other times it keeps from an early exit for good reason. First, I thank you for sharing it with us. Secondly, I would appreciate if you may share any interesting patterns that works with this indicator.
Thank you again.


I am glad I could make a contribution that you found useful. Your post made my day. For the normalized PVT, I just took Chande's, and perhaps others, idea for a a normalized RSI (i.e. StochRSI) and applied it to PVT. PVT is a more refined version of on balance volume. The idea is presented along with many good ideas in a very worthwhile book called the "The New Technical Trader" by Chande and Kroll.

I use a fast and slow, normalized version of PVT and interpret their action the same way I would interprete price stochastics lines. That is, I watch for crossovers in oversold or overbought areas and for divergences.

I am a disgressionary, swing trader and I watch price (candlesticks) and trendlines first and formost. I also pay quite a bit of attention to StochRSI to identify overbought and oversold conditions. With this style, I use normalized PVT as a distant secondary indicator only to confirm my other analysis.

You Murat, or others, may have payed closer attention to the signals it offers and I would be interested in learning from your observations. The formulas I have been using without testing or optimization are shown below:

PVT Normalized I

{Fast Line}
Mov((PVT()-LLV(PVT(),19))/(HHV(PVT(),19)-LLV(PVT(),19)), 5, S);

{Slow Line}
Mov(Mov((PVT()-LLV(PVT(),19))/(HHV(PVT(),19)-LLV(PVT(),19)), 5, S),3,S);



I am usually in trades for an average of six or seven trading days and I am
a very slightly better than break even trader.


Re: PVT Normalized

* To: metastock@xxxxxxxxxxxxx
* Subject: Re: PVT Normalized
* From: Lars Widlund <Lars.Widlund@xxxxxxxxxxxxxxxxx>
* Date: Sun, 29 Jul 2001 12:42:30 +0200
* References: <F144ASuHZ3s8ebXwljn0000bf74@xxxxxxxxxxx>
* Reply-To: metastock@xxxxxxxxxxxxx
* Sender: owner-metastock@xxxxxxxxxxxxx

I made an metastockformula on your PVT-indicator so that I can change the method of the MA. I made one for the short one and one for the long indicator. There are some differenties with the different methods as you can se.

And here are the formulas.

Short Line:

ShortMA:= Input("Enter shorter moving average periods",1,32000,5);
LongMA:= Input("Enter Shorter moving average periods",1,32000,19);
HiLo:= Input("Enter periods for HHV and LLV",1,32000,19);
mat:=Input("MA Type:S,E,W,T",1,4,4); {1=S,2=E,3=W,4=T}

Slow Line:

LongMA:= Input("Enter longer moving average periods",1,32000,5);
HiLo:= Input("Enter periods for HHV and LLV",1,32000,19);
mat:=Input("MA Type:S,E,W,T",1,4,1); {1=S,2=E,3=W,4=T}



PVT Normalized II

{Short Line}
ShortMA1:= Input("Enter Shorter M. Average Periods for Short Line",1,32000,5);
LongMA1:= Input("Enter Shorter M. Average Periods for Short Line",1,32000,19);
HiLo:= Input("Enter periods for HHV and LLV - Short Line",1,32000,19);
mat:=Input("MA Type:S,E,W,T",1,4,4); {1=S,2=E,3=W,4=T}

{Slow Line}
LongMA2:= Input("Enter Shorter M. Average Periods for Slow Line",1,32000,5);
mat2:=Input("MA Type:S,E,W,T",1,4,1); {1=S,2=E,3=W,4=T}


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