Weighted Close is an average ofeach days open, high, low, and close, where more weight is placed on the close.The Weighted Close indicator is a simple method that offers a simplistic viewof market prices. It gets its name from the fact that extra weight is given tothe closing price. It places greater weighting on closing price. Bothindicators approximate the average price traded for a period and is used asfilters in moving average systems.
The weighted close study isanother way of viewing the price data. It places a greater emphasis on theclosing price rather than the high or low. This process creates a single linechart. It provides clear and concise picture of the market
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