PriceActionIndicator(String,Series) Method

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

[Visual Basic]
Overloads Public Shared Function PriceActionIndicator( _
   ByVal seriesName As String, _
   ByVal s As Series _
) As Series

[C#]
public static Series PriceActionIndicator( 
   string seriesName,
   Series s
);

Parameters

seriesName: The name of the series which will be displayed on the chart, i.e. its label.
s: A financial series where the first element is the traded price on the most recent period, the second element is the traded price of the previous periods and so on, for the asset under consideration.

Return Type

A series where the first element is the PAIN of the asset on the most recent period considered, the second term is the PAIN on the period before that and so on.

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