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.
|