Charts

Weighted Close

Description

The Weighted Close indicator takes the average between the close, high, and low prices. However, in the calculation, the Close price is doubled in the numerator which gives the value more weight.

Selecting the Weighted Close indicator allows you to set the Period (as number of minutes) and the color of the result.

Formula

The Weighted Close indicator includes the close price twice in the numerator and adds this value to the high and the low price. The total is then averaged (i.e., divided by a factor of 4).

\(\frac{(Close *2)+ High + Low}{4}\)