The Percentage Volume Oscillator

The Percentage Volume Oscillator (PVO) is a momentum indicator that related to the volume. As opposite to the prices oscillator, this one uses volume to calculate. It's calculated as expressed in points or (more often) as a percentage of the difference between two moving averages overlayed on the volume of trading for a given instrument.

This difference defines the direction of the overall volume trend.If the oscillator above the midline (default - 0), the volume increases if below zero - the volume decreases. The behaviour of price can be interpreted same way.

Use PVO in conjunction with other aspects of technical analysis for getting maximum profit. Good Luck!