The PVA indicator (Price Analysis) is a technical indicator that transforms the accumulated historical data.
The PVA Indicator displays a color-coded histogram based on Price Analysis ( PVA ). It is plotted on a separate panel below the price chart of the underlying asset and colors the candles according to the PVA . The indicator represents four market states by means of four different colored histogram bars:
Green : Extreme on a candle
Red : Extreme on a candle
Silver : Neutral , increasing more than the average
Gray : Neutral Volume
The PVA indicator can be applied to confirm the action of the high or low price of any financial instrument.
I sent a private message to you containing the link to the forex factory where they explain in detail and in English.