What it does
Weighted Close summarizes each bar as the high plus the low plus twice the close, all divided by four. Doubling the close emphasizes the session's final, most decisive price while still acknowledging the range extremes. The result is a single smoothed price line often used as a cleaner input series for averages and oscillators.
Typeoscillatorseparate pane
How to add it
Click Indicators (ƒx) in the header.
Search “Weighted Close” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Use it as an indicator source when you want the close to dominate but with wick information retained, reducing noise from intrabar spikes.
- Plotted alone it acts as a de-noised close line, making trend direction and swing structure easier to read than raw candles.
- Crossovers of price or a fast MA against a weighted-close average can give marginally earlier trend cues than close-based versions.
- Compare weighted close with median price: a persistent gap between them means closes are consistently near one extreme of the range, a directional-pressure tell.
Inputs
This indicator has no configurable inputs — it works out of the box.
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Weighted Close | line | #3f51b5 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 4 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
- Merge multiple oscillators into one pane from the legend ⋯ menu to compare them on a shared axis.
Watch out for
- Like all price transforms it carries no independent predictive power; its value depends entirely on how it is used downstream.
- The heavier close weighting makes it more sensitive to closing auctions and late-session manipulation than midpoint-based measures.