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The Price Volume Rank (PVR) is a simple indicator using two sets of data: price and volume.

The basic interpretation is to buy when the PV Rank is below 2.5 and sell when it is above 2.5.

Developed by Anthony J. Macek, this indicator is described in the June,1994 issue of “Technical Analysis of Stocks & Commodities” magazine.

 

Calculation:

If Price>PrevPrice and Volume>PrevVolume then PVR = 1

If Price>PrevPrice and Volume<PrevVolume then PVR = 2

If Price<PrevPrice and Volume<PrevVolume then PVR = 3

If Price<PrevPrice and Volume>PrevVolume then PVR = 4

Else PVR=0

          PrevPrice = The previous price

          PrevVolume = The previous volume

 

Inputs:

Price Field = Close

Indicates Open, High, Low or Closing price.

 

Indicator Type: Market Strength