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Technical Studies Reference

Average Price for Bar

This study calculates and displays an Average Price for each bar in the chart. The type of average is determined by the Average Fomrula Input.

Let \(O\), \(H\), \(L\), and \(C\) be random variables denoting the Opening, High, Low, and Closing Prices, respectively, and let \(O_t\), \(H_t\), \(L_t\), and \(C_t\) be their respective values at Index \(t\). Then we denote the Average Price for Bar at Index \(t\) as \(\overline{P}_t\), and we compute it for \(t \geq 0\) as follows.

\(\overline{P}_t = \displaystyle{\frac{H_t + L_t}{2}}\)

\(\overline{P}_t = \displaystyle{\frac{H_t + L_t + C_t}{3}}\)

\(\overline{P}_t = \displaystyle{\frac{O_t + H_t + L_t + C_t}{4}}\)

\(\overline{P}_t = \displaystyle{\frac{H_t + L_t + 2C_t}{4}}\)


  • Average Formula: This Input determines which average formula is used for calculating \(\overline{P}_t\).


The spreadsheet below contains the formulas for this study in Spreadsheet format. Save this Spreadsheet to the Data Files Folder.

Open it through File >> Open Spreadsheet.


*Last modified Wednesday, 03rd January, 2018.