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The Weighted Close indicator is the average of a day's close, high and low with extra weight being given to the closing price hence the name, making it similar to the Median Price indicator. The Weighted Close line is as easy to read as a line chart but gives the same sort of feel as a bar chart. To calculate the Weighted Close indicator multiply the close by two, add the high and the low to it, then divide the result by four. Day trading with the weighted close is obviously restricted to using the weighted close to guess whether tomorrow is up or down. Rich day traders, by the way, never guess. |
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