价量趋势指标 (PVT) 是平衡交易量指标（OBV）的变体，它可以用来衡量趋势强度并发出反转信号。

交易信号
交易信号与OBV以及集散指标（AD）一致。PVT不可以单独使用，应该与别的交易指标结合使用。

盘整期
当价格处于调整期时，注意PVT指标的上升和下降。
• 上升的PVT是趋势向上突破的信号。
• 下降的PVT是趋势向下突破的信号。

趋势市场
上升的PVT是对上升趋势的确认，下降的PVT是对价格下降的确认。
• PVT的看涨背离说明价格探底。
• 看跌背离是对价格达到顶部的预示。
 
示例
澳大利亚和新西兰银行集团有限公司股价(ANZ) ，以及    PVT指标

 
1. 在一番强劲的上升信号之后出现看跌背离：价格走出新高，而PVT高点逐渐降低。
2. 接下来出现三重看跌背离：价格继续升高，而PVT高点降低。
3. 价格在2月底走出另一轮新高，而PVT仍然没有超出前期高点。

公式
计算PVT指标的步骤如下：
1. 计算出收盘价的变化率：
           ( 今日收盘价 – 昨日收盘价 ) / 昨日收盘价
2. 变化率乘以交易量：
          变化率*今日交易量
3. 加上昨日PVT：
           变化率*今日交易量 +昨日 PVT

Price and Volume Trend
Price and Volume Trend (PVT) is a variation of On Balance Volume, used to determine the strength of trends and warn of reversals.
Trading Signals
Trading signals are the same as for OBV and Accumulation Distribution.
Price and Volume Trend should not be used on its own but in conjunction with other indicators.
Ranging Market
During a ranging market watch for a rising or falling Price and Volume Trend.
• Rising PVT signals an upward breakout.
• Falling PVT signals a downward breakout.
Trending Market
A rising Price and Volume Trend confirms an up-trend and a falling PVT confirms a down-trend.
• Bullish divergence between PVT and price warns of market bottoms.
• Bearish divergence between PVT and price warns of market tops.
EXAMPLE
Australia and New Zealand Banking Group Limited (ANZ) is shown with    Price Volume Trend.
1. After a strong up-trend there is a bearish divergence with price making a new high and Price and Volume Trend making a lower high.
2. This is followed by a triple divergence: price makes a higher peak while PVT is lower.
3. Price makes another new high at the end of February while PVT again fails to make a new high. Note theclassic divergence.
Setup
See Indicator Panel for directions on how to set up Price and Volume Trend. Edit Indicator Settings to alter the default settings.
Formula
The steps in the Price and Volume Trend calculation are:
1. Calculate the Percentage Change in closing price:
           ( Closing Price [today] - Closing Price [yesterday] ) / Closing Price [yesterday]
2. Multiply the Percentage Change by Volume:
           Percentage Change * Volume [today]
3. Add to yesterday's cumulative total:
           Percentage Change * Volume [today] + PVT [yesterday]

文章翻译由兄弟财经提供

文章来源：http://www.incrediblecharts.com/indicators/price_and_volume_trend.php