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WCLPRICE

Type: wclprice • Category: indicators

Description​

Weighted Close Price

Parameters​

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

Help​

WCLPRICE: Weighted Close Price

Description​

The WCLPRICE indicator is a financial analysis tool used to calculate the weighted close price of a security. It is a variation of the traditional close price, taking into account the highs and lows of the day to provide a more comprehensive view of the market.

What does this worker do?​

The WCLPRICE worker calculates the weighted close price using the following formula:

WCLPRICE = (high + low + (2 * close)) / 4

Where:

  • high: the highest price of the day
  • low: the lowest price of the day
  • close: the closing price of the day

This indicator requires 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

How to interpret the results​

The WCLPRICE indicator can be used to gain a better understanding of the market's sentiment and potential direction. A higher WCLPRICE compared to the traditional close price may indicate a bullish trend, while a lower WCLPRICE may indicate a bearish trend.

Usage​

To use the WCLPRICE indicator, simply provide the required parameters and run the worker. The output will be the weighted close price.

Example usage​

An example of how to use the WCLPRICE indicator is shown in the following GIF:

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

A shorter version of the GIF is also available:

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

Additional knowledge​

The WCLPRICE indicator is a variation of the traditional close price and can be used in conjunction with other technical indicators to form a trading strategy. It is commonly used in financial analysis to identify trends and potential reversals.

By incorporating the highs and lows of the day, the WCLPRICE indicator provides a more comprehensive view of the market compared to traditional close price analysis. This can be particularly useful for traders and investors looking to gain a better understanding of market sentiment.