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This study calculates and displays the Price Volume Trend of the Price and Volume Data.

The Price Volume Trend is similar in concept to On Balance Volume in that it is a cumulative total of Volume that is adjusted depending on changes in Closing Prices. But whereas OBV adds all Volume on days when Prices close higher and subtracts all Volume on days when Prices close lower, the PVT adds only a portion of the daily Volume. The amount of Volume added to the PVT is a function of the amount by which Close Prices rose or fell relative to the previous day's Close.

Let \(C\) and \(V\) be random variables denoting the Close Price and Volume, respectively, and let \(C_t\) and \(V_t\) be their respective values at Index \(t\). Then we denote the Price Volume Trend at Index \(t\) as \(PVT_t\). We initialize the Price Volume Trend to zero (that is, \(PVT_0 = 0\)), though this value is not displayed as output. We compute \(PVT_t\) for \(t > 0\) as follows.