Indicator Description

TYPPRICE (Typical Price) is a price transformation indicator that calculates an arithmetic average of the high, low, and closing prices to obtain a typical price level.

Calculation Principle

TYPPRICE is calculated using the following formula:

TYPPRICE = (High + Low + Close) / 3

Where:

• High is the highest price
• Low is the lowest price
• Close is the closing price

Usage Scenarios

1. Price level analysis
2. Trend determination
3. Support and resistance level calculation
4. Trading signal generation

Usage Recommendations

1. Can be used to calculate moving averages
2. Use in combination with other technical indicators
3. Monitor price deviations from typical price
4. Pay attention to market trend changes