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Section: 3 Market Structure
Sub Section: 3 Weighted Close
The Weighted Close formula calculates the average value of daily prices. The only difference between Typical Price and the Weighted Close is that the closing price has extra weight, and is considered the most important price. The Weighted Close can be used as a filter for trend indicators, and can also be used as a daily average price (very useful if we want a simpler view of prices).