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MetaStock
- Price
Action Indicator (PAIN)
Rev.
7/01/97
If you were only
given today's open, high, low and close, how could
you make heads or tails of it? The Price Action
Indicator (PAIN) can help. The formula returns a
single value that weighs intra-day momentum (C-O),
Late Selling Pressure (LSP) (C-L), and Late
Buying Pressure (LBP) (C-H). The formula is
proven by constructing ideal limit-up and limit
down scenarios in bond futures. The output is
shown to be consistent with the interpretation of
Japanese candlestick patterns. See Michael B.
Geraty (1997). "Getting Better
Directions" Futures Vol. 26: Aug.
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