Plots a line with the middle points between the high and low prices of the day
Interpretation
It provides a line chart of every-day’s average price at the period specified
For eg. A slope rises when it is above 20-day SMA and falls when it is below it
Default Parameters Used/Inputs
Close Line
Period
Returns/Output
Median price of the stock at specified period
Formula
Median = (Bars+1)/2 if bars is odd
Median= Bars/2 if
Median[X]= I[X-Bars+R]
where X indicates current bar and R indicates the range
I[X] indicates input line value
