Investment Studio > Expressions > Functions > Indicator > TP
float array[*][2] tp(float array[*][4] dhlc)
Returns a two-column array containing dates (first column) and corresponding Typical Price (TP) values (second column). Given n input rows in dc, n rows are returned.
dhlc is a four-column array containing daily price quotes. Each row is structured as follows:
| Column # | Content |
| 1 | The quote date. |
| 2 | The day's high (highest traded price). |
| 3 | The day's low (lowest traded price). |
| 4 | The day's close (last traded price). |
The array is assumed to be time-sorted, with earlier dates preceding later dates.
Automatic type conversion allows the use of date strings as arguments instead of explicit date values.
Interpretation
TP is a simple arithmetic average of each trading day's high, low and close:
| high + low + close | ||
| TP | = | ¾¾¾¾¾¾¾¾ |
| 3 |
Its primary use is as building block in other indicators (e.g. MFM, MFP).
For a real life example, consider Palm (NASD:PALM) from August 1 to October 31, 2001:
The red line shows TP overlayed on price (black and white candlesticks).
Example
Assuming standard US date format settings,
=tp({{"1/1/1990", 100, 90, 98}, {"1/2/1990", 97, 84, 86}})
returns {{32874, 96}, {32875, 89}}. 32874 is the date code for 1/1/1990; 96 = (100 + 90 + 98) / 3 is the TP on that date. 32875 is the date code for 1/2/1990; 89 is the TP on that date.