WCLPRICE (Weighted Close Price)

Indicator Description

WCLPRICE (Weighted Close Price) is a price transformation indicator that calculates a weighted average price by giving higher weight to the closing price, reflecting the importance of the closing price in price formation.

Function Information

  • Function Name: WCLPRICE
  • Input Parameters: High, Low, Close
  • Parameter Settings: None
  • Output: WCLPRICE value

Calculation Principle

WCLPRICE is calculated using the following formula:

WCLPRICE = (High + Low + (Close * 2)) / 4

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 weighted close price
  4. Pay attention to market trend changes
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