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TYPPRICE

Type: typprice • Category: indicators

Description​

Typical Price

Parameters​

NameTypeDescriptionRequiredDefault
dataExpstringprices datano
highstringselect the column with highest pricesno
lowstringselect the column with lowest pricesno
closestringselect the column with closing pricesno

Help​

TYPPRICE

Typical Price​

The Typical Price (TYPPRICE) is an indicator used in financial analysis to calculate the average price of a security based on its high, low, and closing prices.

Description​

The Typical Price is a simple yet effective indicator that provides a more comprehensive view of a security's price action. It is calculated by taking the average of the high, low, and closing prices of a security for a given period. This indicator helps traders and analysts to gauge the overall price trend and volatility of a security.

What does this worker do?​

The TYPPRICE worker calculates the Typical Price of a security based on the provided high, low, and closing prices. It takes the following parameters:

  • dataExp: prices data
  • high: select the column with highest prices
  • low: select the column with lowest prices
  • close: select the column with closing prices

The worker then calculates the Typical Price using the formula:

Typical Price = (High + Low + Close) / 3

How to interpret the results​

The Typical Price can be used to:

  • Identify trends: A rising Typical Price indicates an uptrend, while a falling Typical Price indicates a downtrend.
  • Gauge volatility: A high volatility in the Typical Price indicates a high level of market activity.
  • Compare with other indicators: The Typical Price can be used in conjunction with other indicators, such as moving averages, to confirm trading signals.

Additional Knowledge​

The Typical Price was developed by J. Welles Wilder, a well-known technical analyst. It is often used in combination with other indicators, such as the Relative Strength Index (RSI) and Bollinger Bands, to form a comprehensive trading strategy.

Usage Example​

To use the TYPPRICE worker, simply provide the required parameters:

TYPPRICE(dataExp, high, low, close)

For example:

TYPPRICE(data, 'High', 'Low', 'Close')

This will calculate the Typical Price for the given data.

Visualizing the Indicator​

For a visual representation of how to use the TYPPRICE indicator, please refer to the following images:

Full GIF​

[![Full GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_full.gif)

Short GIF​

[![Short GIF](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)](https://pub-6c7cc7f707d94ca98153d59a039b9a3d.r2.dev/indicator_short.gif)