PriceActionIndicator(SeriesCollection) Method

Evaluates the Price Action Indicator (PAIN) of an asset for a given trading period.

[Visual Basic]
Overloads Public Shared Function PriceActionIndicator( _
   ByVal sc As SeriesCollection _
) As SeriesCollection

[C#]
public static SeriesCollection PriceActionIndicator( 
   SeriesCollection sc
);

Parameters

sc: A collection of series objects. For example, to evaluate this indicator for two series you will need to pass a series collection containing this two series.

Exceptions

Exception	Description
ArgumentException	Thrown if the `High`, `Low`, `Open`, `Close` are strictly negative.

Remarks

Evaluation

The PAIN indicator is evaluated by the following formula:
PAIN = ((Close-Open)+(Close-High)+(Close-Low))/2
where:

(Close-Open) defines Intra-Day Momentum
(Close-Low) defines Late Selling Pressure (LSP)
(Close-High) defines Late Buying Pressure (LBP)

Close is the period closing price, Open is the period opening price, High is the highest traded price during the period and Low is the lowest traded price during the period.

Interpretation

When the close is near the low, the assets's price is under selling pressure. If the close is near the high the asset's price is price is under buying pressure

See Also

Language