StockFetcher Forums · General Discussion · PAIN.....<< >>Post Follow-up
chetron
2,817 posts
msg #66798
Ignore chetron
modified
8/29/2008 12:25:37 PM


http://www.forexrealm.com/technical-analysis/technical-indicators/price-action-indicator.html

The Price Action Indicator (PAIN) provides a lot of helpful information using only today's open, high, low and close. This pays a single value that is rather efficient, building ideal limit-up and limit-down scenarios in bond futures. The output has also demonstrated to be firm with the interpretation of "Japanese candlestick pattern". Using the formula:

[(C-O)+(C-H)+(C-L)] / 2

where:

(C-O) defines Intra-Day Momentum,

(C-L) defines Late Selling Pressure (LSP) and

(C-H) defines Late Buying Pressure (LBP)

This yields a single value that has proven itself by constructing ideal limit-up and limit-down scenarios in bond futures. The output has also shown to be consistent with the interpretation of Japanese candlestick patterns.



Fetcher[

/* TACHIKAWA */

SET{INTRADAY_MOMENTUM,CLOSE - OPEN}
SET{LATE_SELLING_PRESSURE,CLOSE - LOW}
SET{LATE_BUYING_PRESSURE,CLOSE - HIGH}

SET{VAR1,INTRADAY_MOMENTUM * LATE_SELLING_PRESSURE}
SET{VAR2,VAR1 + LATE_BUYING_PRESSURE}
SET{VPAIN,VAR2 / 2}
SET{THE_PAIN,INDPOSITION(VPAIN,60) * 100}

DRAW THE_PAIN
DRAW VPAIN

ADD COLUMN INTRADAY_MOMENTUM
ADD COLUMN LATE_SELLING_PRESSURE {LSP}
ADD COLUMN LATE_BUYING_PRESSURE {LBP}
ADD COLUMN VPAIN

CLOSE ABOVE 1
VOLUME ABOVE 1000
]




StockFetcher Forums · General Discussion · PAIN.....<< >>Post Follow-up

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