Types of Indicators
Typical Price - approximation of average price for each period that can be used as a filter for moving average systems.
Weighted Close (similar to typical price) - the difference being that the weighted close places greater weighting on closing price. Both of these indicators approximate the average price traded for a period and are used as filters in moving average systems.
Price Envelopes (aka percentage bands) - are plotted at a set percentage above and below a moving average. They indicate overbought and oversold levels, and can be traded on their own or in conjunction with a momentum indicator.
Moving Averages - an objective measure of trend direction by smoothing the price data. These are normally calculated using closing prices. They can also be used on median, typical and weighted closing prices as well as other indicators.