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Oscillator PAIN (Price Action Indicator) displays the OHL3C candlestick price ratio over a specified period of time.
It has two parameters:
- Period – calculation period;
- Method – calculation method.
Calculation:
Pain = (3*MA(Close) – MA(Open) – MA(High) – MA(Low)) / 2
where:
- MA – moving average with the Period time period and the Method calculation method.
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