Typical Price [Typical]

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The Typical Price function calculates the average of the high, low, and closing prices for the day. Parameters ------------------ Close         The closing price of the security for each given day. High          The high price of the security for each given day. Low           The low price of the security for each given day. Note that while this function is intended for use with these specific values, any values can be used for these parameters, including other price values and averaged prices. Function Value ------------------------ As with other price adjustment functions, the typical price provides a simplified view of the trading prices for the day. It can be used to smooth out some of the volatility of the closing price since it includes information for the entire trading day rather than specifically the end of the day. Usage ----------- The typical price can be used anywhere a closing price or other single price field would be used. For example, it could be compared to a moving average of its value to determine when a security is trending upward or downward. Source ------------ This function is based on an entry in "Technical Analysis From A To Z" by Steven B. Achelis.