Sepo wrote: Tue Mar 28, 2023 2:01 pm
Hi guys...Can I please get assistance on what these different price options mean:)
These selections are calculations of the past positions of price regarding candles. You can select how you want the RSI indicator to perform the calculations. However, most people use close prices rather than open. In theory, if price is closing higher over a set number of periods (let’s say 20 period), then we can suggest that the strength is increasing. Remember, it’s always based on past periods or candles…
Open or opening price of whatever (N) period you select
High or the highest price of N period
Low or the lowest price
Close or closing price
Median - HL/2 or (Highest Price + Lowest Price)/2 – the average of price between the highest and lowest price
Typical - HLC/3 or (Highest Price + Lowest Price + Closing Price)/3 – the average price between the highest, lowest, and closing price.
Weighted - HLCC/4 or (Highest Price + Lowest Price + 2*Closing Price)/4 – the average price between the highest, lowest, and 2 times the closing price.
Hope this helps...