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Price Action Indicator (PAIN) by Michael B. Geraty
If you were only given today's open, high, low and close, how could youmake heads or tails of it?
The Price Action Indicator (PAIN) can help. The formula returns a singlevalue that weighsintra-day momentum (C-O), Late Selling Pressure (LSP) (C-L), and LateBuying Pressure (LBP) (C-H).
The formula is proven by constructing ideal limit-up and limit downscenarios in bond futures.The output is shown to be consistent with the interpretation of Japanesecandlestick patterns.

See Michael B. Geraty (1997). "Getting Better Directions" Futures Vol.26: Aug.

Price Action Indicator (PAIN)



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