CPR - Central Pivot Range (by Alex L.)CPR or Central Pivot Range is a tool for identifying a trend, its volatility and its future targets for the price levels (in up or down directions).
What this indicator offers:
- Main purpose of this indicator is to display levels of support/resistance in a given trend as potentially good levels of entering into position or existing from a position. Entry levels are RED, resistance levels are in GREEN.
- You have the ability to view daily, weekly, monthly pivot levels, depending on what kind of trader you are.
- Unique to this indicator - you have the ability to view YEARLY pivot levels.
- Unique to this indicator - you have the "Pivots History" option to either show all history or just the recent piriod to make your chart clean of "noise".
- Unique to this indicator - you can view "future" pivot levels based on current price.
- You have the ability to view "future pivots" which can be useful as entry or exit levels for the current trend.
- You have the ability to view one, two, three or four pivor levels concurrently depending on how much information you want on your chart.
- You have the option to use "Compact View" to further reduce "noise" and make your chart event more clean.
- Open source.
Some guidelines:
- When current Central Pivot Range is higher than previous Central Pivot Range then the stock is in an uptrend and vice versa.
- Wide Central Pivot Range usually means the stock is in a "sideways trend" and volatility is low.
- Tight Central Pivot Range usually means the stock has a very low volatility and is about to explode (up or down). Switching to a higher timeframe can often give hints to what direction the stock is likely to go.
Default settings:
- Pivot Levels : "Two Pivot Levels"
- Filter/Hide Pivots: "Hide Pivot+BC+TC"
- Pivots History: "Few Months Back"
'V' Show Monthly Pivots
'V' Show Future Pivots
Calculations of pivot levels formula is according to book "Secrets of a Pivot Boss" by Franklin O. Ochoa.
Quote from the book: "The way to make money is to make it. The way to make big money is to be right at exactly the right time."
Open source.
Enjoy!
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CPR by NKDCentral Pivot Range (CPR) Trading Strategy:
The Central Pivot Range (CPR) is a widely-used tool in technical analysis, helping traders pinpoint potential support and resistance levels in the market. By using the CPR effectively, traders can better gauge market trends and determine favorable entry and exit points. This guide explores how the CPR works, outlines its calculation, and describes how traders can enhance their strategies using an extended 10-line version of CPR.
What Really Central Pivot Range (CPR) is?
At its core, the CPR consists of three key lines:
Pivot Point (PP) – The central line, calculated as the average of the previous day’s high, low, and closing prices.
Upper Range (R1) – Positioned above the Pivot Point, acting as a potential ceiling where price may face resistance.
Lower Range (S1) – Found below the Pivot Point, serving as a potential floor where price might find support.
Advanced traders often expand on the traditional three-line CPR by adding extra levels above and below the pivot, creating up to a 10-line system. This extended CPR allows for a more nuanced understanding of the market and helps identify more detailed trading opportunities.
Applying CPR for Trading Success
1. How CPR is Calculation
The CPR relies on the previous day's high (H), low (L), and close (C) prices to create its structure:
Pivot Point (PP) = (H + L + C) / 3
First Resistance (R1) = (2 * PP) - L
First Support (S1) = (2 * PP) - H
Additional resistance levels (R2, R3) and support levels (S2, S3) are calculated by adding or subtracting multiples of the previous day’s price range (H - L) from the Pivot Point.
2. Recognizing the Market Trend
To effectively trade using CPR, it’s essential to first determine whether the market is trending up (bullish) or down (bearish). In an upward-trending market, traders focus on buying at support levels, while in a downward market, they look to sell near resistance.
3. Finding Ideal Entry Points
Traders often look to enter trades when price approaches key levels within the CPR range. Support levels (S1, S2) offer buying opportunities, while resistance levels (R1, R2) provide selling opportunities. These points are considered potential reversal zones, where price may bounce or reverse direction.
4. Managing Risk with Stop-Loss Orders
Proper risk management is crucial in any trading strategy. A stop-loss should be set slightly beyond the support level for buy positions and above the resistance level for sell positions, ensuring that losses are contained if the market moves against the trader’s position.
5. Determining Profit Targets
Profit targets are typically set based on the distance between entry points and the next support or resistance level. Many traders apply a risk-reward ratio, aiming for larger potential profits compared to the potential losses. However, if the next resistance and support level is far then middle levels are used for targets (i.e. 50% of R1 and R2)
6. Confirmation Through Other Indicators
While CPR provides strong support and resistance levels, traders often use additional indicators to confirm potential trade setups. Indicators such as moving averages can
help validate the signals provided by the CPR.
7. Monitoring Price Action At CPR Levels
Constantly monitoring price movement near CPR levels is essential. If the price fails to break through a resistance level (R1) or holds firm at support (S1), it can offer cues on when to exit or adjust a trade. However, a strong price break past these levels often signals a continued trend.
8. Trading Breakouts with CPR
When the price breaks above resistance or below support with strong momentum, it may signal a potential breakout. Traders can capitalize on these movements by entering positions in the direction of the breakout, ideally confirmed by volume or other technical indicators.
9. Adapting to Changing Market Conditions
CPR should be used in the context of broader market influences, such as economic reports, news events, or geopolitical shifts. These factors can dramatically affect market direction and how price reacts to CPR levels, making it important to stay informed about external market conditions.
10. Practice and Backtesting for Improvements
Like any trading tool, the CPR requires practice. Traders are encouraged to backtest their strategies on historical price data to get a better sense of how CPR works in different market environments. Continuous analysis and practice help improve decision-making and strategy refinement.
The Advantages of Using a 10-Line CPR System
An extended 10-line CPR system—comprising up to five resistance and five support levels—provides more granular control and insight into market movements. This expanded view helps traders better gauge trends and identify more opportunities for entry and exit. Key benefits include:
R2, S2 Levels: These act as secondary resistance or support zones, giving traders additional opportunities to refine their trade entries and exits.
R3, S3 Levels: Provide an even wider range for identifying reversals or trend continuations in more volatile markets.
Flexibility: The broader range of levels allows traders to adapt to changing market conditions and make more precise decisions based on market momentum.
So in Essential:
The Central Pivot Range is a valuable tool for traders looking to identify critical price levels in the market. By providing a clear framework for identifying potential support and resistance zones, it helps traders make informed decisions about entering and exiting trades. However, it’s important to combine CPR with sound risk management and additional confirmation through other technical indicators for the best results.
Although no trading tool guarantees success, the CPR, when used effectively and combined with practice, can significantly enhance a trader’s ability to navigate market fluctuations.
CPR, Camarilla & Moving AverageThis script is created primarily for Intraday trading but can also be used for short and long term trading. This is a combination of Central Pivot Range (CPR), Moving Averages and Camarilla Pivot levels (with inner levels). This helps you to combine the strategies of CPR and Moving Averages to identify the best trading opportunities with greater edge. Central Pivot Range and Camarilla pivots are taken from PivotBoss by Franc Ochoa.
Key features:
# Daily CPR levels
# Weekly CPR levels
# Monthly CPR levels
# Previous Day High and Lows
# Previous Week Highs and Lows
# Previous Month Highs and Lows
# Camarilla Pivots with inner Levels
# CPR Levels for the next Day, Week and Month
# 5 Simple moving averages and 5 Exponential Moving Averages
What separates this script from other scripts with CPR and Moving averages?
# One of the few indicators (if not the only one) which combines the 2 types of Moving Averages, CPR and also Camarilla Pivots.
# CPR Levels for not just the next Day, but for next Week(Weekly CPR) and Month(Monthly CPR) also.
# Hide the previous day's levels according to your wish. This is the most unique feature of this indicator. You can set the number of Daily CPR levels you want to load in the chart. This is not just for the Daily CPR but also for the Weekly and Monthly CPR also. This makes the chart less cluttered and prevents the candles from getting buried in the indicators. Please notice how the previous day's CPR levels are hidden in the displayed demo chart on the script page. In the chart, only one trading day's data is shown(by default).
# This script is OPEN SOURCE.
Strategies :
For CPR & Camarilla Strategies for intraday trading and swing trading refer to the book 'Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market' by Franklin O. Ochoa.
Moving averages strategies :
Moving averages can be combined and also used individually for several strategies
* 9 EMA can be used as trailing stop loss for strong moving trends that helps you to catch big moves.
* 20sma can be used not just trailing stop loss but also for taking re-entry to the trend.
* Golden cross - The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside. This indicates a bullish turn in the market. Eg: 50 SMA cuts 200 SMA from below.
* Death Cross - The death cross occurs when the short term moving average crosses the long-term average from above. This indicates a bearish turn in the market. Eg: 50 SMA cuts 200 SMA from above.
* When 20 SMA is above 50 SMA and 20 SMA and 50 SMA are angling up like parallel lines, then it denotes bullish strength. If this happens right after Golden Cross, big moves to the upside can be expected.
* When 20 SMA is below 50 SMA and 20 SMA and 50 SMA are angling down like parallel lines, then it denotes bearish strength. If this happens right after Death Cross, big moves to the downside can be expected.
* When 20SMA and 50 SMA are going flat and crossing each other, then it denotes sideways sentiment.
Moving average strategies are taken from the book 'How to Make Money in Intraday Trading' by Ashwani Gujral. For learning more about how to combine CPR and Moving averages in your trading please refer to this book.
CPR with MAs, Super Trend & VWAP by MackraniThis script will allow to add CPR with Standard Pivots and 4 Indicators.
Standard Pivot has 9 levels of support and 9 levels of resistance lines. It has CPR , 3 levels of Day-wise pivots , 3 levels of Weekly pivots and 3 Levels of Monthly Pivots .
In Addition to the CPR and Pivot , this script will allow user to Add 4 more Indicators - SMA , EMA , VWAP and SuperTrend as well.
All the Support and resistance levels can be enabled / disabled from settings. It will allow to select multiple combinations of support and resistance levels across 3 levels at any of the 3 time-frames individually and combined.
All 4 Indicators can be can be enabled / disabled from settings. This will allow the indicators to be plotted individually and combined along with any combination of CPR & Pivots .
These number of combinations will allow user to visualize the charts with desired indicators, pivot support & resistance levels on all or any of the 3 time frames.
For Ease of access, listed few points on how the script works..
- CPR and day-wise level 1 & 2 (S1 & R1) enabled by default and can be changed from settings
- Day-wise Level 2 & 3 (S2, R2, S3 & L3) can be enabled from settings
- Weekly 3 levels and Monthly 3 levels can be enabled from settings
- CPR & pivot levels colored in blue lines
- All support levels colored in Green
- All resistance levels Colored in Red
- Day-wise pivot , support & resistance are straight lines
- Weekly pivot , support & resistance are cross (+) lines
- Weekly pivot , support & resistance are circle (o) lines
- SMA , EMA , VWAP and SuperTrend Enabled by Default
- SMA Colored in Orange
- EMA Colored in Red
- EMA Colored in Teal
- SuperTrend Colored in standard Red & Green with triangle arrows
- Any combinations can be selected from settings-> Inputs & style
CPR with SMA, EMA, VWAP & Super Trend by GuruprasadMeduriThis script will allow to add CPR with Standard Pivots and 4 Indicators.
Standard Pivot has 9 levels of support and 9 levels of resistance lines. It has CPR , 3 levels of Day-wise pivots , 3 levels of Weekly pivots and 3 Levels of Monthly Pivots .
In Addition to the CPR and Pivot, this script will allow user to Add 4 more Indicators - SMA, EMA, VWAP and SuperTrend as well.
All the Support and resistance levels can be enabled / disabled from settings. It will allow to select multiple combinations of support and resistance levels across 3 levels at any of the 3 time-frames individually and combined.
All 4 Indicators can be can be enabled / disabled from settings. This will allow the indicators to be plotted individually and combined along with any combination of CPR & Pivots.
These number of combinations will allow user to visualize the charts with desired indicators, pivot support & resistance levels on all or any of the 3 time frames.
For Ease of access, listed few points on how the script works..
- CPR and day-wise level 1 & 2 (S1 & R1) enabled by default and can be changed from settings
- Day-wise Level 2 & 3 (S2, R2, S3 & L3) can be enabled from settings
- Weekly 3 levels and Monthly 3 levels can be enabled from settings
- CPR & pivot levels colored in blue lines
- All support levels colored in Green
- All resistance levels Colored in Red
- Day-wise pivot , support & resistance are straight lines
- Weekly pivot , support & resistance are cross (+) lines
- Weekly pivot , support & resistance are circle (o) lines
- SMA, EMA, VWAP and SuperTrend Enabled by Default
- SMA Colored in Orange
- EMA Colored in Red
- EMA Colored in Teal
- SuperTrend Colored in standard Red & Green with triangle arrows
- Any combinations can be selected from settings-> Inputs & style
CPR (Central Pivot Range)Central Pivot Range is a trend and volatility forecasting tool. It is calculated from previous session's (day, week, or month) high, low, close values. It works on the idea that every trading session must be the result of its previous trading session.
Pivot, top pivot and bottom pivot values form the CPR. If the CPR for each trading session is getting higher (and also the price is trading above it) then it denotes bullish bias and vice versa for bearish. And the width of the CPR (i.e., distance between top and bottom pivot) denotes the volatility of the session.
If the CPR width is narrow, we can expect a trending or volatile trading session. If it's wide, then we can expect a range bound or sideways trading session.
Support and Resistance levels can be used as a profit booking zone or to add/reduce position sizing.
In this Indicator you have the following:
1. CPR with traditional support and resistance levels (S1-S5 & R1-R5).
2. Developing CPR for next trading day, week, and month.
3. Customizable lookback period, line width.
4. Option to show/hide labels, prices, SR levels, developing CPR.
CPR by WsrWe recommend some preconditions for Intraday Trading Strategy with CPR (Central Pivot Range)
Rules For BUY Setup with CPR
1) Today's Pivot Level Should be higher than Previous Day's Pivot Level
2) The previous day's close should be near day's high.
Rules For SELL Setup with CPR
1) Today's Pivot Level Should be lower than Previous Day's Pivot Level
2) The previous day's close should be near day low.
CPR or central pivot range is the best tool available for the trader to see the price base indicator. You can use this tool i.e CPR (central pivot range) to check the price indicator in the stock market. You know the price of shares sometimes goes up or sometimes goes down in the stock market. So it will be best to stay updated and know it before the time the share market/stock market fall or rises.
CPR Option Selling StrategyGood afternoon traders,
This is a script I built for option selling, in attempt to have a high success rate.
The gist of how it works:
It uses the opening or close of the current chart's timeframe opening bar when referenced against a designated (higher) timeframe's central pivot range (CPR).
Using that comparison, this script calculates an option to sell: put, call, or iron condor. It will calculate a call value using an average of the CPR central pivot and the max value of the prior higher timeframe's high or R1 (whichever is higher.)
It does the same for the put side, but uses the higher timeframe's low or S1 (whichever is lower.)
It will use the option on the other side of the source (open or close) of the CPR as the "option in play."
Settings:
There are many settings, most are simply "viewable" settings, and probably self explanatory, others, not so much:
"Source for Trigger" - this is the value used on the "opening bar," such as the close. This value is the one compared to the Central Pivot Range in determining whether to sell a call (if the source is lower,) sell a put (if the source is higher,) or an iron condor if it's in the CPR.
"Show Historical Win/Loss Percentages" - this shows a table in the bottom right of the W/L percentages for the current ticker and settings. Used for a quick glance at historical success rates.
"Extend Developing Levels Into the Future" - This will extend the developing values for CPR values, call and put values into the future (good for trying to trade early or setting up pre-market trades, assuming there will not be huge gap in one direction or another.)
"Select Higher Timeframe" - "Auto" will choose the higher timeframe for you. "Manual" will use the next field...
"If Manual, Timeframe for Pivots" - allows you to choose a different higher timeframe.
The next two sections are simply whether to show the plots for different levels of traditional and/or camarilla pivot points.
The last section will allow you to just filter on certain days. Really only useful for "backtesting" certain 0DTE trades on some daily options during the hourly chart.
Example use:
An example use (which I completed last week) on the chart referenced in this share: I sold a put-spread for $0.90, selling a 590 and buying a 570 strike in the middle of the week. I was looking at an hourly timeframe chart with a weekly pivot timeframe for the strategy.
Obviously, making only $0.90 on a $20 spread, there is a lot more to lose than to make, but I did some other analysis to go with it, so I felt safe, and I had a stop set for $1.50. So it worked, along with 3 other plays I did, very similar, and if that "Historical Win/Loss Percentage" is accurate, which I am fairly certain it is, I felt good about it.
The key all comes down to what you sell it for, right? That piece only you can determine. :)
Happy trading and enjoy,
Deuce
CPR by GuruprasadMeduriThis script will allow to add CPR with Standard Pivot ad 9 levels of support and 9 levels of resistance lines. It has CPR, 3 levels of Day-wise pivots, 3 levels of Weekly pivots and 3 Levels of Monthly Pivots. All the Support and resistance levels can be enabled / disabled from settings. It will allow to select multiple combinations of support and resistance levels across 3 levels at any of the 3 time-frames individually and combined.
These number of combinations will allow user to visualize the charts with desired pivot support & resistance levels on all or any of the 3 time frames.
For Ease of access, listed few points on how the script works..
- CPR and day-wise level 1 & 2 (S1, R1, S2 R2) enabled by default and can be changed from settings
- Day-wise Level 3 (S3 & L3) can be enabled from settings
- Weekly 3 levels and Monthly 3 levels can be enabled from settings
- CPR & pivot levels colored in blue lines
- All support levels colored in Green
- All resistance levels Colored in Red
- Day-wise pivot, support & resistance are straight lines
- Weekly pivot, support & resistance are cross (+) lines
- Weekly pivot, support & resistance are circle (o) lines
- Any combinations can be selected from stettings-> Inputs & style
// - This is an iterative development. Will add more features due course of time. Suggestions are always welcomed!!
CPR WidthThe indicator shows the width of the Central Pivot Range. Frank Ochoa call it It Pivot Range Histogram in his book.
Use it in conjunction with the Central Pivot Range indicator.
Below is the interpretation of the reading.
CPR Width > 0.5 - Sideways or Trading Range Day,
CPR Width > 0.75 - increases the likelihood of sideways trading behavior,
CPR Width < 0.5 - Trending type of day,
CPR Width < 0.25 - increases the likelihood of a trending market.
The above reading only increases the likely-hood of the possibility and not always right.
CPR PRICE ACTION TODAY AND TOMMOROWThis script is based on the Secret of Pivot Boss book by Frank Ochoa. Suitable for Intraday Trading.
You can view the Daily timeframe CPR / support/resistance.
You can view the Weekly timeframe CPR / support/resistance.
You can view the Monthly timeframe CPR / support/resistance.
You can also view Previous Day High/Low.
You can also view Previous Week High/Low.
You can also view Previous Month High/Low.
You can also turn it on/off as per your wish.
CPR Strategy - (Call and Put Option Selling)The strategy is designed using CPR and Donchian Channels.
STRATEGY RULES:
We need to wait for "Sell Call" or "Sell Put" arrow on the chart.
Sell call or put on the next candle.
Sell call strike above CPR resistance and candle close above it will be stop loss.
Similarly, sell put strike below CPR support and candle close below it will be stop loss.
This strategy is purely based on theta decay principle.
Hence, always use this strategy on weekly option.
Also, never trade on Monday or Friday to avoid volatility.
Hope you enjoy this strategy and become a professional trader.
Enjoy! :-)
Drop your message below if you have any doubts. Thanks.
CPR SutradingA simple CPR indicator which plots pivot line, bottom cpr, top cpr, supports , resistances along with previous day high, low and close.
CPR - VSD_TamizhTrader DAY/WEEK/MONTH/YEAR1. CPR FOR DAY/WEEK/MONTH/YEAR HAS BEEN CODED
2. IT HAS OFFSET FOR TOMORROW CPR LEVELS (HAS TO BE ADJUSTED IN INDICATOR SETTINGS DEPENDING ON TIME FRAME)
3. UNIQUE AS I DID NOT FIND A CPR FOR ALL TIME FRAMES
4. USEFUL FOR BEGINNERS
CPR with Developing Pivot RangeThis Developing Pivot Range(DPR) made by Saravanan_Ragavan based on Pivot Boss Developing Pivot Range Concept. This indicator will show how the CPR is developing during the day. Also it shows how trend developing. range fills with green and widening in up trend, wise versa range fills with red and widening in down trend.
Pivot Boss described as following about this indicator:
The Developing Pivot Range (DPR) indicator dynamically calculates the central pivot range in real time as new data enters the market bar by bar. Essentially, this indicator allows you to see the “meat of the market” as the day’s trading activity is taking place. More importantly, however, the closing values for the indicator tell you where the central pivot range will be located for the following session, which paves the way for analyzing extremely important two-day pivot range relationships and key width characteristics. Having this information in advance allows us to prepare properly for the
upcoming session.
Note: Today Session end DPR become Tomorrow's CPR.
Hope this Helps you!
CPR Width + MTF, Offset and BarcolorsDue to the request of some users and inspired by "5 Day ADR ICT Intraday Tracker" I updated "CPR Width" and added extra functionality for your convenience.
CPR (Gaurav Baheti)The Central Pivot Range (CPR) is one of the most versatile price-based indicators available to traders. This versatility makes this indicator a mainstay in my trading arsenal.
Some authors have called the pivot range the “meat of the market”, while others refer to the central pivot point as the “heartbeat of the indicator”. In my opinion, the central pivot range is the Swiss Army Knife of pivots. At any given time, the range can be support or resistance , it can forecast trending or sideways price behavior, dictate the day’s direction, or serve as an integral part of a trend.
CPR with ema_crossThis indicator will combination of ema cross over 9,26 and Central Pivot Range(CPR) with resistance 1, resistance 2, support 1 and support 2
Simple CPR for intraday index tradingSimple CPR is an indicator that displays the Central Pivot Range (CPR) and Support-Resistance pivots. It offers granular customization across CPR, Floor pivots, Developing CPR, and Session High/Low levels.
Original concept from Larry Williams, Mark Fisher & Frank Ochoa
Modified from " CPR (Central Pivot Range)" script by ajithcpas
What is CPR (Central Pivot Range)?
The Central Pivot Range (CPR) is calculated from the previous period’s High (H), Low (L), and Close (C). It forms three levels:
• Pivot (P) = (H + L + C) / 3
• Top Central (TC) = ( P - BC) + P
• Bottom Central (BC) = ( H + L)/2
Together, these levels form a central zone representing the market’s “value area.” Price trading above the CPR typically indicates bullish sentiment, while trading below the CPR reflects bearish bias. A narrow CPR often precedes strong trending moves, whereas a wider CPR signals potential consolidation.
How Pivot Levels are Calculated
Beyond CPR, the indicator supports multiple pivot calculation models, including Traditional, Classic, Fibonacci, and Camarilla
For example, in the traditional model:
• R1 = ( 2 × P ) − L
• S1 = ( 2 × P ) − H
• Higher levels (R2, R3…) scale proportionally by the prior range (H-L).
These levels serve as dynamic intraday support-resistance zones and breakout targets.
Key Features
⦿ Multi-Formula CPR : Select Traditional, Classic, Fibonacci, or Camarilla pivots.
⦿ Multi-Timeframe Control : Auto-detect or manually set CPR timeframe (Daily → Yearly).
⦿ Complete Pivot Suite : Extending to five resistance and five support levels (R1–R5, S1–S5) with optional midpoints (R0.5, R1.5, R2.5, R3.5, R4.5, S0.5, S1.5, S2.5, S3.5, S4.5).All levels can be individually toggled on or off, giving traders complete control over the level of chart detail they prefer.
⦿ Full Customization : Independently toggle lines, fills, price labels, and level names.
⦿ Developing CPR & S/R : Real-time projection of next-session CPR, R1, and S1 with separate visibility controls.
⦿ Session High/Low Tracking : Plot Previous-Session High (PH) & Low (PL) with optional labels and prices.
⦿ Look-Back Flexibility : Display any number of historical CPR/pivot periods.
⦿ Styling Precision : Choose line width, style (solid, dashed, dotted), and individual colors.
⦿ Optional Fills : Visualize the CPR zone or CPR–R1/S1 bands with semi-transparent shading.
⦿ Optimized Performance : Efficient array-based drawing for smooth chart performance even with a long history.
Use Case
CPR analysis helps identify trend bias, volatility contraction/expansion, and key support-resistance zones. This indicator is ideal for intraday indices traders who need a structured yet customizable price-action framework.
Disclaimer
This script is for educational and technical analysis purposes only. It does not constitute financial advice or a recommendation. Always perform independent analysis and manage risk appropriately before placing trades.
CPR PROCPR Pro - Central Pivot Range Indicator
A complete CPR trading toolkit with multi-timeframe support.
█ FEATURES
- CPR Zone (TC, BC, PP) - Daily, Weekly, or Monthly
- Support & Resistance Levels (S1-S3, R1-R3)
- Virgin CPR Detection - Highlights untested CPR zones (yellow)
- CPR Width Analysis - Narrow (breakout) vs Wide (range) days
- VWAP with 10 anchor options
- Trend EMA
- Dashboard with real-time bias & levels
- Customizable colors per timeframe
█ HOW TO USE
- BULLISH: Price above CPR - look for longs
- BEARISH: Price below CPR - look for shorts
- VIRGIN CPR: Untested zones = strong magnets
- NARROW CPR: Expect breakout day
- WIDE CPR: Expect range day
█ COLORS
- Daily CPR: Blue
- Weekly CPR: Green
- Monthly CPR: Orange
- Virgin CPR: Yellow
All-in-one CPR indicator Introduction and Acknowledgement:
The script is basically a mashup script and provides a combined functionality of various indicators. I'll explain the usefulness and the optimal usage of the script after giving the credits where it is due. A CPR indicator for visually identifying the trend along with the strength of the trend is NOT available in the public library of TradingView. Hence, the need of this indicator.
The credit of creating the original indicators remain unknown to me but I would like to acknowledge the authors whose formulae and codes I have used for creating this mashup indicator.
- Frank Ochoa
- Guruprasad Meduri
- Rafael Zioni
- Stoked Stocks
- Pine team for default indicators
The prime focus of the script is identifying and simplifying the 2 main aspects of a trend:
1. Direction / Underlying trend
2. Strength of the trend
Flaws in traditional CPR:
Some may see this as a flaw, some may not. So take my opinion with a grain of salt. In general, the traditional CPR indicator is used to plot just support and resistance levels, and the trend identification is purely discretionary. In addition to this, there is no way to assess the strength of the move without using a dedicated volumed based indicator. This causes amateur traders to take counter trades to the market direction.
What is the need of this hybrid indicator?
A CPR indicator that also aids in visually identifying the trend and the strength of the trend with respect to the price action in NOT available in the public library of TradingView. The traditional CPR can be used to assess the rough direction of the market but if it combined with the Hull ribbon, the probability of identifying the trend increases manifold. Hence, I decided to create this mashup indicator.
In addition to the basic CPR pivots, the script provides the functionality of the following indicators:
1. HMA based trend ribbons with auto buy/sell signals
2. Volatility based bands - Bollinger bands, Keltner channel, Donchian channel, envelope.
3. Coloured volume candles to determine the strength of the trend
4. CPR with daily, weekly, and monthly levels
5. Previous day high/low
6. Tomorrow CPR
7. 3 Simple moving averages
8. Volume Weighted Average Price (VWAP)
Correct usage of the indicator:
The optimal usage of the indicators consists of mainly 2 parts:
1. Identification of the trend using the combination of CPR and Hull ribbon
2. Determining the strength of the trend
How to identify the trend?
In general, when the price is above CPR it is considered a bullish trend. Also, when the price is above the Hull ribbon, it is considered bullish. Reverse is true for a bearish trend. Combining the traditional CPR logic with the Hull trend ribbon, we can conclude that:
1. Bullish trend = Price above CPR and above the Hull ribbon
2. Bearish trend = Price below CPR and below the Hull ribbon
If the Hull ribbon is showing a zig-zag move, the trend will be sideways. Also, the time frame of the Hull ribbon can be defined as per the need of the user.
Exhibit: Identification of a bullish trend
Exhibit: Identification of a bullish trend with a contra move (pullback)
Exhibit: Identification of a bearish trend
Exhibit: Identification of a bearish trend with a contra move (pullback)
How to determine the strength of the trend?
1. Strong trend = The dark coloured candles represent volume more than 150% of the look back period. For instance
2. Moderate trend = The bright coloured candles represent volume between 50-150%.
3. Neutral trend = The Grey coloured candles represent a weak trend where the volume is less than 50%.
Exhibit: Identification of a strong bearish trend along with the trend direction
Exhibit: Identification of a strong bullish trend using only coloured candles
All the other indicators including the SMA, VWAP, Bollinger bands, Keltner channels, etc. can be used as per the taste of the trader.
Thanks for reading! I hope you find this indicator useful.
Happy learning. Cheers!
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView
[MF] CURRENT AND NEXT CPR LEVELSThis is CPR with Monthly, Weekly and Daily time frames of the current and next* CPR levels.
* The following lines only become relevant at the end of the cycle.
CPR LEVELS:
P (pivot point) = (H + L + C) / 3
BC (Bottom Central) = (H + L) / 2
TC (Top Central) = (P - BC) + P
Resistance Levels
- Green = R1 Levels ( 2×P - L )
- Green = R2 Levels ( P + (H - L) )
- Green = R3 Levels ( H + 2 * (P - L) )
Support Levels
- Red = S1 Levels ( 2×P - H )
- Red = S2 Levels ( P - (H - L) )
- Red = S3 Levels ( L - 2 * (H- P) )
Description and Refrences:
en.wikipedia.org(technical_analysis)
Rules For BUY Setup with CPR
1) Today's Pivot Level Should be higher than Previous Day's Pivot Level
2) The previous day's close should be near day high.
Rules For SELL Setup with CPR
1) Today's Pivot Level Should be lower than Previous Day's Pivot Level
2) The previous day's close should be near day low.
CPR or central pivot range is the best tool available for the trader to see the price base indicator. You can use this tool i.e CPR (central pivot range) to check the price indicator in the stock market. You know the price of shares sometimes goes up or sometimes goes down in the stock market. So it will be best to stay updated and know it before the time the share market/stock market fall or rises.
