Typical Price

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TypicalPrice.efs  EFSLibrary - Discussion Board
  

File Name: TypicalPrice.efs


Description:
Typical Price


Formula Parameters:
Typical Price: Blue
AVG: Red
Length: 9
Typical Price Thickness: 1
AVG Thickness: 1
Display Title Value: False

Notes:
The Typical Price for each bar is calculated as an average of 3 values:
high, low and close. This value is then plotted on the chart. An average
of the Typical Price from the most recent number of bars specified by the
input Length is also plotted. Using the Typical Price instead of the close
in calculating and plotting, say, a moving average weighs the high and low
into the calculation.
This indicator can be used in a manner similar to the Mov Avg 2 Lines,
with attention given to the direction and relative position of prices,
Typical Price and the average of the Typical Price. (Typical Price is
known to some traders as the pivot point.)

Download File:
TypicalPrice.efs




EFS Code:






/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2008. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.  Description:            Typical Price Version:            1.0  08/08/2008Notes:    The Typical Price for each bar is calculated as an average of 3 values:    high, low and close. This value is then plotted on the chart. An average    of the Typical Price from the most recent number of bars specified by the    input Length is also plotted. Using the Typical Price instead of the close    in calculating and plotting, say, a moving average weighs the high and low    into the calculation.    This indicator can be used in a manner similar to the Mov Avg 2 Lines,    with attention given to the direction and relative position of prices,    Typical Price and the average of the Typical Price. (Typical Price is     known to some traders as the pivot point.)Formula Parameters:                     Default:    * Typical Price                     Blue       Color of Typival Price line    * AVG                               Red         Color of AVG line    * Length                            9    * Typical Price Thickness           1    * AVG Thickness                     1    * Display Title Value               False**********************************/var fpArray = new Array();var bInit = false;var TypPrice = null;function preMain() {    setPriceStudy(true);    setStudyTitle("Typical Price ");    setCursorLabelName("TypicalPrice", 0);    setCursorLabelName("AVG", 1);        setDefaultBarFgColor(Color.blue, 0);    setDefaultBarFgColor(Color.red, 1);        setPlotType(PLOTTYPE_LINE, 0);     setPlotType(PLOTTYPE_LINE, 1);         setDefaultBarThickness(1, 0);    setDefaultBarThickness(1, 1);        askForInput();    var x=0;    fpArray[x] = new FunctionParameter("LineColor1", FunctionParameter.COLOR);    with(fpArray[x++]){        setName("Typical Price");        setDefault(Color.blue);    }        fpArray[x] = new FunctionParameter("LineColor2", FunctionParameter.COLOR);    with(fpArray[x++]){        setName("AVG");        setDefault(Color.red);    }        fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER);    with(fpArray[x++]){        setLowerLimit(1);                setDefault(9);    }    fpArray[x] = new FunctionParameter("LineThickness1", FunctionParameter.NUMBER);    with(fpArray[x++]){        setName("Typical Price Thickness");        setLowerLimit(1);                setDefault(1);    }    fpArray[x] = new FunctionParameter("LineThickness2", FunctionParameter.NUMBER);    with(fpArray[x++]){        setName("AVG Thickness");            setLowerLimit(1);                setDefault(1);    }    fpArray[x] = new FunctionParameter("ViewValue", FunctionParameter.BOOLEAN);    with(fpArray[x++]){       setName("Display Title Value");       setDefault(false);    }    }function main(Length, LineColor1, LineThickness1, LineColor2, LineThickness2, ViewValue) {var nTypPrice;var nAFC;   if ( bInit == false ) {         setDefaultBarFgColor(LineColor1, 0);        setDefaultBarFgColor(LineColor2, 1);            setDefaultBarThickness(LineThickness1, 0);        setDefaultBarThickness(LineThickness2, 1);            TypPrice = hlc3();        xAFC = sma(Length,TypPrice);        setShowTitleParameters( ViewValue );        bInit = true;     }         nTypPrice = TypPrice.getValue(0);    nAFC = xAFC.getValue(0);       if(nTypPrice==null||nAFC==null) return;    return new Array (nTypPrice, nAFC); }