Weighted Close Indicator
The Weighted Close indicator is an average of each day's price. It gets its name from the fact that extra weight is given to the closing price. The Median Price and Typical Price Indicator are similar indicators.
When plotting and back-testing moving averages, indicators, trend lines, etc, some investors like the simplicity that a line chart offers. However, line charts that only show the closing price can be misleading since they ignore the high and low price. A Weighted Close chart combines the simplicity of the line chart with the scope of a bar chart, by plotting a single point for each day that includes the high, low, and closing price.
Weighted Close Indicator(Parameters)
- Close. The cell reference for the range of Close prices.
- High. The cell reference for the range of High prices.
- Low. The cell reference for the range of Low prices.
- Output range. The cell reference for the range of output data.
Weighted Close Indicator(Syntax)
WeightedClose(CLOSE;HIGH;LOW;VALUE;DIRECTION)
Example
=WeightedClose(A10:A10;K10:K10;L10:L10;14;1)
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