Description
The Weighted Close study calculates a daily price-bound value being equal to the quarter of the sum of double Close, High, and Low. Weighted Close suggests that calculations give double weight to the Close price and single weight to the High and Low.
The study contains a secondary plot which is a simple moving average of the Weighted Close.
The Weighted Close study smooths out irregularities of the price data taking into account Highs and Lows along with the Close prices.
Input Parameters
| Parameter | Description |
|---|---|
length
|
The number of bars used to calculate the moving average. |
Plots
| Plot | Description |
|---|---|
WtdClose
|
The Weighted Close study. |
Avg
|
The moving average of the Weighted Close. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.