Increasing the Mode Setting past 5 will add more weight to the close last price.
When you average the OPEN, HIGH, LOW, and LAST, you will get an average of these prices including the LAST price.
Any mode setting past 5 will add one more average to the equation.
If you use a 5 minute chart with a 10 SMA. It will look at the last 10 bars and average them out.
If you make the MODE = 10 for example. It will take 5 more LAST / CLOSE prices and add it to the equation.
For example. The Bressert Smooth will take the last 10 CLOSE prices, then add in 5 additional current last prices, CLOSE – and then divide by 15… 10+5 = 15 – We do this so you still have the smooth feel and look of the chart, but you will see the more current last / close price.
Keep in mind Mode 3,4 and 5 are the already the current close price. 1 and 2 are the averages. read more