True Price Value
This indicator belongs to the Moving Averages group. It has been created for the following purposes:
- Higher sensitivity to price changes when using high periods of averaging.
- Possibility to use the indicator values on high periods as true values around which the price fluctuates.
However, this doesn't mean that the indicator cannot be used as an ordinary moving average.
- IndPeriod - period of averaging.
- IndMethod - type of averaging:
- MODE_Simple - simple moving average.
- MODE_Exponential - exponential moving average.
- MODE_Smoothed - smoothed moving average.
- MODE_Weighted - weighted moving average.
- MODE_Triangular - "triangular" moving average.
It is recommended to use MODE_Exponential with high values of IndPeriod.
2. Increased sensitivity when using small values for period.
3. Delete non-standard types of smoothing - "triangular moving average".
4. Added IndPrice parameter - price type used for calculation.
- Close price
- Open price
- High price
- Low price
- Median price
- Typical price
- Weighted price