Positive Volume Index (PVI) - Indicator Formula

It is an alternative indicator to the pvt and the elementary obv, which correlates the percentage of price increase with the progress of volumes.

Its structure is quite simple:

If volumes rise from the previous day, the percentage change in the share price is added to the previous day's value of the indicator. (At the initial point of the PVI structure, it starts from a conventional base, e.g. 1,000).

A growing pvi indicates a physiological situation: increasing prices with upward volumes; it is clear that if prices rise, but with stagnant volumes, the pvi will immediately reflect this pathology, showing a downward development.