Positive Volume Oscillator (PVO) indicator download for MetaTrader 4 | Forex indicator download - MT4/MT5 resources

The Positive Volume Oscillator (PVO) is one of the useful MetaTrader 4 oscillators . Like other oscillators, it analyzes market volume changes to predict price movements.

This tool displays two exponential moving averages (EMAs) with periods of 10 and 2 in the oscillator window.

Indicator specification table

The specifications of this indicator are summarized in the table below.

Indicator overview

The Crossing Exponential Moving Average (EMA) Positive Volume Oscillator window provides basic information about volume changes:

• If the EMA line crosses from above to below , it indicates a downtrend .
• If the crossover occurs from bottom to top , it signals an uptrend .

Indicators are in an upward trend

As shown in the chart below, the price trend crosses the fast EMA upwards the slow EMA .

Traders enter buy trades in these areas. Later, when the two lines cross downward again, it signals a shift to a bearish trend and traders exit their trades .

Indicators are in a downward trend

In the current market trend of the USD/CAD currency pair, the price crossed the slow EMA downwards from the fast EMA .

Traders open sell trades after receiving the necessary confirmations from other technical analysis tools.

Positive volume oscillator setting

The complete setup of the indicator is shown in the image below:

• Positive Volume Smoothing Period: This represents a slow EMA period
• EMA comparison period: represents the fast EMA period
• Theme: The background theme of the indicator

Conclusion

The Positive Volume Oscillator (PVO) is designed to analyze the relationship between volume and price. It is considered an effective tool for identifying bullish and bearish trends .

Traders can adjust strategies based on volume analysis and price movements using other MT4 trading aid indicators .