Weighted Close Price Indicator Explained

Weighted Close (WCP) computes (high + low + 2 × close) / 4 — the bar's range with the close counted twice. It says: the range matters, but where the bar settled matters most.

How It Works

• (High + low + 2 × close) / 4 per bar.
• Doubles the close's influence relative to typical price.
• Tracks close-based signals closely while softening single-print spikes.

How to Trade It

WCP is the middle ground between raw close and HLC3: use it as the source for oscillators when close-only inputs are too jumpy but you still want settlement to dominate. Comparing WCP to HL2 also quantifies close-vs-range positioning per bar.

Building It in Setup.Cash

Add Weighted Close Price in the strategy builder — the length input controls its sensitivity — and use its value in any entry, exit, or filter condition. You can also combine it with other tools in the Indicators Lab or via the AI indicator generator. See the full source family: HL2, HLC3, OHLC4. For the full category overview, see the advanced trend library guide.

Trend tools reward patience: pick one, pair it with a volatility or regime filter, and backtest before trading it live.