Typical Price (TYPPRICE)
An average of the High, Low, and Close prices.
Usage
Use as the primary price input for the Money Flow Index (MFI) and Commodity Channel Index (CCI). It provides a representative price level for the entire bar.
Background
Typical Price is a simple average of the High, Low, and Close. It is widely used in indicators that measure the relationship between price and volume, as it offers a more comprehensive view of the day's activity than the Close price alone. — StockCharts ChartSchool
Formula
\[
TYPPRICE = \frac{High + Low + Close}{3}
\]