Typical Price (TP)

The Typical Price (TP) is a simple statistical measure that calculates the arithmetic average of the high, low, and closing prices for a given period. Its purpose is to provide a single, more representative price point for that period, rather than relying solely on the closing price. This value is not typically used as a standalone indicator but serves as a foundational building block for more complex indicators, most notably the Money Flow Index (MFI), which uses Typical Price to calculate raw money flow.

TP

=TP(data)

Example Usage

=TP(A2:F500)

Parameters

Parameter Type Description Status
data
Range
Range of columns containing the date, Open, high, Low, close, volume data.
 Required

Returns

A two-column array of dates and their corresponding TP values.

Typical Price Formula Result in Google Sheets

Source Code

Copy the following code into your Apps Script editor (Extensions > Apps Script) to use the TP function in your spreadsheet.

tp.js 
/**
 * Calculates the Typical Price (TP) for a given dataset.
 * Typical Price is the average of High, Low, and Close prices: (H + L + C) / 3.
 *
 * @param {array} data - The input range. Must include at least 5 columns: Date, Open, High, Low, Close.
 * @returns {array} A two-column array with headers "Date" and "TP".
 * @customfunction
 */

function TP(data) {
  const processedData = getData(data);

  // --- NEW: Function-level validation ---
  // After getting the data, check if it has the required structure for this specific function.
  const columnCount = processedData[0].length;
  if (columnCount < 5) {
    throw new Error(`Invalid input for TP. The Typical Price calculation requires at least 5 columns (Date, Open, High, Low, Close), but the input data only has ${columnCount}.`);
  }
  // --- END of validation ---

  const dates = processedData.slice(1).map(row => row[0]); // Extract dates
  const highs = processedData.slice(1).map(row => row[2]); // Extract high prices
  const lows = processedData.slice(1).map(row => row[3]); // Extract low prices
  const closes = processedData.slice(1).map(row => row[4]); // Extract close prices

  // Initialize an array for TP values with headers
  const tpValues = [["Date", "TP"]];

  // Calculate TP for each row
  for (let i = 0; i < closes.length; i++) {
    const typicalPrice = (highs[i] + lows[i] + closes[i]) / 3;
    tpValues.push([dates[i], typicalPrice]);
  }

  return tpValues;
}