The Percentage Volume Oscillator (PVO) is the percentage difference between two moving averages of volume. The PVO has a maximum of 100, but no minimum value.

PVO crosses over zero when the fast EMA is greater than the slow EMA indicating that volume is above average. The PVO crosses below zero when the fast EMA is less than the slow EMA indicating that volume is below average. The direction of the PVO curve indicates rising or falling volume levels. Look for strong volume (rising PVO) to confirm price trends. A moving average of the PVO can be used as a signal line to indicate longer term movements and to look for crossovers.

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