PVO

Summary

Percentage Volume Oscillator: a variation of the Percentage Price Oscillator (PPO, created by Gerald Appel) applied to the volume series instead of price. It is the difference between a fast and slow moving average of volume, expressed as a percentage of the slow MA. Positive when short-term volume is above its longer-term average (rising participation), negative when below. The default periods (12, 26) match MACD and PPO.

Formula

PVO = ((fastMA(inVolume) - slowMA(inVolume)) / slowMA(inVolume)) * 100, both MAs of type optInMAType; output = 0 when slowMA == 0

The standard form is exponential with periods 12 and 26 — ((12-day EMA of Volume - 26-day EMA of Volume) / 26-day EMA of Volume) * 100, i.e. the PPO/MACD oscillator computed on volume. optInMAType therefore defaults to EMA — the moving average Gerald Appel used for the original PPO/MACD; pass another type (e.g. TA_MAType_SMA) to override.

Inputs

inVolume — Volume series

Outputs

outReal — PVO value in percent

Parameters

optInFastPeriod — Period of the fast MA
optInSlowPeriod — Period of the slow MA
optInMAType — Moving average type used for both MAs

Implementation

TA-Lib Definition: pvo.c · pvo.yaml

Native	File
C	`ta_PVO.c`
Rust	`pvo.rs`
Java	`Core_PVO.java`

TA-Lib is also available for Python, R and more using a wrapper.

Aliases

Percentage Volume Oscillator

References

PVO has no separately documented originator; it applies the PPO/MACD oscillator (Gerald Appel) to the volume series.
Formula and standard (12, 26, 9) parameters: Percentage Volume Oscillator (PVO), StockCharts ChartSchool; also documented by TradingView.