||Price Action Indicator (PAIN)
The formula returns a single
value that weighs intra-day momentum (Close-Open), Late Selling
Pressure (LSP) (Close-Low), and Late Buying Pressure (LBP) (Close-High).
The formula is proven by constructing best limit-up and limit down
scenarios in bond futures. For interpretation refer to Futures magazine
(August 1997), "Getting Better Directions" by Michael B. Geraty
Download to import into Tradecision.
How to use this custom indicator in Tradecision:
- Click Download.
- Save this indicator in a safe location on your hard drive.
- Open Tradecision and in the Tools menu click the Indicator Builder.
- In the Indicator Builder dialog, click Import, locate the saved file and then click OK.
Now you can insert the indicator directly into a price chart or modify it like any other in-built indicator.