New Input Price Type Please...

[RJay]

NT,

You have several input price types now. I am requesting another.

I would like to see a price type for ( (Open + Close) / 2 ).

You could call it "Average" unless someone has a better name.

I believe this is more stable than Median becouse it will exclude the more eratic high/low trade info that occurs during bar formation.

Thanks,

RJay

[ctrlbrk]

Isn't that "Typical" (already present).

Mike

[NinjaTrader_VinceB]

Hi RJay,

Thanks for taking the time to write this down.

We'll add this to the list of future considerstions.

[ctrlbrk]

Ok answered my own question

Typical = High + Low + Close / 3

Mike

[NinjaTrader_Bertrand]

True Mike - I'm not sure how much different this would be from RJay's request, but we'll add it to our list and check.

[RJay]

Hi Mike,

I also would like to see this becouse "Open" never changes.

"Close" is always "right now".

Moving averages indicators will be smoother with this input combination than using Median input..

Moving averages indicators will also be more "truthful" than using Median input. (My Opinion!!!)

RJay

[Elliott Wave]

This might be a useful price type as well:

( High[0] + Low[0] + 2*Close[0] )/4 );

It has the advantage of typical but gives the close more weight.

[ctrlbrk]

Yes very good ideas.

Mike

[tomgilb]

Rename Price types

It would be nice if the "Median" price type was renamed "HL Avg" and the "Typical" price type was renamed "HLC Avg". This would make the choices explicit. Please add this suggestion to your ever-growing list.

[NinjaTrader_VinceB]

Hi,

Thanks for the suggestion, will do.