Median Price (MEDPRICE)
The midpoint between the High and Low prices for a given period.
Usage
Use to identify the central tendency of a bar’s range. It is the basis for many oscillators and trend-following indicators like the Bill Williams Alligator.
Background
Median Price represents the 50% retracement level of the current period’s range. By focusing on the High-Low midpoint, it removes the ‘bias’ of the closing price, which can often be manipulated by end-of-day positioning. — TA-Lib Documentation
Formula
[ MEDPRICE = \frac{High + Low}{2} ]