The PVA Volume indicator (Price Volume Analysis) is a technical indicator that transforms the accumulated historical data.
The PVA Volume Indicator displays a color-coded volume histogram based on Price Volume 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 volume on a bullish candle Red : Extreme volume on a bearish candle Silver : Neutral Volume, increasing more than the average Gray : Neutral Volume
The PVA Volume indicator can be applied to confirm the action of the high or low price of any financial instrument.