PLdot: A Three-Period Average of Typical Price

Summary

PLdot is a simple price indicator calculated as a three-period simple moving average of typical price. Typical price for each bar is the average of its high, low, and close, so the indicator smooths this combined measure rather than using closing prices alone. The document identifies the indicator’s author and notes that it was first published as an MQL4 implementation in 2008.

Key ideas

• PLdot averages each bar’s high, low, and close to form typical price.
• It applies a three-period simple moving average to that typical price series.
• The indicator is a basic smoothing tool rather than a complete trading strategy.
• The document provides no entry rules, exit rules, or evidence of trading performance.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.