Finance::GeniusTrader::Indicators::TP
Overview
The Typical Price indicator provides a simple, single-line plot of the day's average price. Some investors use th Typical Price rather than the closing price when creating moving average penetration systems.
The Typical Price is a building block of the Money Flow Index.
Calculation
The Typical Price indicator is calculated by adding the high, low and closing prices together, and then dividing by three. The result is the average, or typical price.
Note
The Typical Price is sometimes called "Pivot Point".
Validation
This indicator is indirectly validatet by I:CCI.