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Time Averaged Price draws the line with its values calculated by prices in a specified range.
It has two configurable parameters:
- Period - calculation period
- Applied price
The calculation depends on the selected calculation price:
- Close price: TAP = Close[Period-1]
- Open price: TAP = Open[Period-1]
- High price: TAP = Max
- Low price: TAP = Min
- Median price: TAP = (Max+Min)/2.0
- Typical price: TAP = (Max+Min+Close)/3.0
- Weighted price: TAP = (Max+Min+2.0*Close)/4.0
where:
Min, Max - Low and High prices in the Period range
Fig. 1. Time Averaged Price, Close
Fig. 2. Time Averaged Price, High
Fig. 3. Time Averaged Price, Low
Fig. 4. Time Averaged Price, Median
Fig. 5. Time Averaged Price, Weighted
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/22512