Typical Price (TP)

The Typical Price (TP) is a simple statistical measure that calculates the arithmetic average of the high, low, and closing prices for a given period. Its purpose is to provide a single, more representative price point for that period, rather than relying solely on the closing price. This value is not typically used as a standalone indicator but serves as a foundational building block for more complex indicators, most notably the Money Flow Index (MFI), which uses Typical Price to calculate raw money flow.

Function Syntax

=TP(data)  

• data (array):
  Range of columns containing the date, Open, high, Low, close, volume data.

Returns:
A two-column array of dates and their corresponding TP values.

Output Example

Below is an example of the resulting array when applying the custom =TP() function