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.
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Fibonacci, Classic and Camarilla types have been added.
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Dev cpr for higher timeframe fixed.
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Background fill for CPR added. Developing CPR lines moved to respective session time. S1, R1 for Developing CPR added.
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Dev CPR line fix for weekend and holidays. Extend Dev CPR line by given number of days option added to fix Dev CPR line on holidays.
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Updated NSE/BSE 2024 holidays. Added missing SR midpoints (0.5, 3.5, 4.5). Added support for half-yearly (6M) timeframe.
Hi Ajith, Your CPR indicator is great. As you know in Indian market Indices weekly expiry has been changed some time ago. Can you do one setting in your code that Week start for Indices on the basis of Week Days. For Example Thursday to Wednesday and Wednesday to Tuesday. I just want to tell you that if you provide option in dropdown in you indicator setting like(Monday, Tuesday.....Friday) then weekly start from that day to next 7 days. I think you will understand what i am saying. If it is possible please do the same.Thanks.
ajithcpas
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@ShwetaSinghTomar, currently week cpr is calculated based on previous week candle, that is from mon-fri. But you want to calculate it from thur-wed?
ShwetaSinghTomar
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@ajithcpas, Yes exactly. I just want a setting that i can choose any day between (Monday to friday) and it will calculate from that to next 7 Days.
ajithcpas
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@ShwetaSinghTomar, sure. But i can provide that only as a protected script with subscription or something if more people requests it. Because it's quite a work, and if you need any requirements in future will be have to be updated.
ShwetaSinghTomar
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@ajithcpas, Ok. If more people request than please work on it.
GauravPal09
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@ajithcpas, This would be great. I'm sure most traders in India prefer trading in BNF and N. If we get to calculate the CPR from the expiry days ( say Wednesday in case of BNF) it'd be awesome. Thanks for this awesome indicator.
ajithcpas
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@ShwetaSinghTomar, let me know if you need this urgently and ready to pay for personalised indicators.
ShwetaSinghTomar
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@ajithcpas, i don' t need urgently and i can wait for it.
rravibbhargav
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Thanks a lot
SURYA0DHA
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beyond Intra-day, higher level (Week>30m, Month, Year) evolving CPRs are coming out wrongly to current CPR
Your CPR indicator is great. As you know in Indian market Indices weekly expiry has been changed some time ago. Can you do one setting in your code that Week start for Indices on the basis of Week Days. For Example Thursday to Wednesday and Wednesday to Tuesday. I just want to tell you that if you provide option in dropdown in you indicator setting like(Monday, Tuesday.....Friday) then weekly start from that day to next 7 days. I think you will understand what i am saying. If it is possible please do the same.Thanks.