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StochPVT Indicator
Though not directly related to the volume percent indicator, I have recently been using
a volume indicator that I wrote myselfin MetaStock's formula language. It uses the same idea that Chande used toturn RSI into the StochRSI oscillator and the preprogrammed Price Volume Trend function. Price Volume Trend is similar to On Balance Volume, except that as the volume is accumulated, it is weighted according to the percent price change from the previous close.

I use fast and slow "stochastic" lines to judge when either accumulationor distribution is taking place. I used a look back period of 19 days whichfits my style. Signals are generated by the fast crossing above or belowthe slow lines. I have not worked with it enough to say whether or not divergences offer signals too.

Formulas for the StochPVT are shown below:


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


Source / From: TOP

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