Analysis Techniques & Strategies

$image\insert_paintbar.gif$ Price < Avg (PaintBar)

$image\price_less_than_average_pb.gif$

Input Information

Name	Expression		Description
Price	Numeric	Close	Price used to calculate the average.
Length	Numeric	14	Number of bars used to calculate the average.

Description

Price < Avg paints any bar whose price is less than its average price. The Price input specifies the type of price (that is, High, Low, Close, or any numeric expression) used in the PaintBar study. The Length input specifies the number of bars used to calculate the average of the Price input. Using the default values, Price < Avg paints any bar whose closing price (specified by the Price input) is less than its 14-bar closing average (specified by the Length input).

This PaintBar study identifies price trends. For example, when the close falls below its average close, it might indicate the beginning of a possible downtrend or the continuation of an existing downtrend.

Related Functions

AverageFC