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
CPR By Ask Dinesh Kumar(ADK)Simple CPR Indicator to increase probability of profitable trades:
The Central Pivot Range (CPR) is a trading tool used by traders to identify potential support and resistance levels in the market. Here's a simplified explanation of how traders can potentially profit using the Central Pivot Range with 10 lines:
1. *Understanding CPR*: CPR consists of three lines: the pivot point (PP), upper resistance level (R1), and lower support level (S1). Additionally, traders often add five more of profitable tradeslines above and below the PP to create a 10-line CPR.
2. *Identify Trend*: Determine the prevailing market trend. If the market is bullish, traders will look for buying opportunities near support levels. If the market is bearish, they'll seek selling opportunities near resistance levels.
3. *Entry Points*: Look for entry points near the support (S1) or resistance (R1) levels within the CPR. These levels can act as potential turning points where price may reverse.
4. *Risk Management*: Set stop-loss orders to manage risk. Stop-loss orders should be placed slightly below support levels for long positions and slightly above resistance levels for short positions.
5. *Profit Targets*: Determine profit targets based on the distance between entry point and the next support or resistance level. Some traders use a risk-reward ratio to ensure potential profits outweigh potential losses.
6. *Confirmation*: Use additional technical indicators or price action patterns to confirm potential entry or exit points within the CPR.
7. *Monitor Price Action*: Continuously monitor price action around the CPR levels. Traders should be prepared to adjust their positions if price breaks through support or resistance levels convincingly.
8. *Trade Management*: Once in a trade, actively manage it by adjusting stop-loss orders, trailing stops, or taking partial profits as price moves in the desired direction.
9. *Market Conditions*: Consider broader market conditions, such as economic indicators, geopolitical events, or news releases, which can impact price movements and the effectiveness of CPR.
10. *Practice and Analysis*: Practice using CPR on historical price charts and analyze past trades to refine strategies and improve decision-making skills.
Remember, trading involves risks, and no strategy guarantees profits. It's essential to thoroughly understand the concepts behind CPR and practice disciplined risk management to increase the likelihood of successful trades.
How does central pivot range work:
Sure here's a concise explanation of how the Central Pivot Range (CPR) works in 10 points:
1. *Calculation*: CPR is calculated using the previous day's high (H), low (L), and close (C) prices.
2. *Pivot Point (PP)*: The central point of CPR is the average of the previous day's high, low, and close prices: PP = (H + L + C) / 3.
3. *Upper Resistance Levels (R1, R2, R3)*: These are potential price levels above the pivot point where resistance may occur. They are calculated by adding a multiple of the range (H - L) to the pivot point: R1 = (2 * PP) - L, R2 = PP + (H - L), R3 = PP + 2 * (H - L).
4. *Lower Support Levels (S1, S2, S3)*: These are potential price levels below the pivot point where support may occur. They are calculated similarly to resistance levels but subtracting multiples of the range from the pivot point: S1 = (2 * PP) - H, S2 = PP - (H - L), S3 = PP - 2 * (H - L).
5. *Trading Signals*: Traders use CPR to identify potential support and resistance levels where price may reverse or stall.
6. *Range Bound Markets*: In range-bound markets, traders may buy near support levels (S1, S2, S3) and sell near resistance levels (R1, R2, R3).
7. *Breakout Trading*: When price breaks through a CPR level convincingly, it may indicate a potential trend continuation or reversal, providing breakout trading opportunities.
8. *Volume and Momentum*: Traders often look for confirmation from volume and momentum indicators when price approaches CPR levels.
9. *Intraday Trading*: CPR can be applied to intraday timeframes as well, providing shorter-term traders with potential trading levels for the day.
10. *Dynamic Indicator*: CPR is dynamic and recalculates daily based on new price data, allowing traders to adapt their strategies to current market conditions.
Understanding how to interpret CPR levels and integrate them into a trading strategy can help traders identify potential entry and exit points in the market.
Pivot Points with MID LevelsThis indicator shows the Standard Pivot Points level based on daily values that can act as support and resistance. It is used by a variety of traders around the world. You can select which time frame Pivot Point Levels you'd like. Daily, weekly etc... Perfect for swing trading or day trading.
Pivot Points- Shows 3 levels of resistance, the Pivot Point and 3 levels of support
(R3, R2, R1, PIVOT POINT, S1, S2, S3
MID Levels- The MID levels are 50% retracement from the pivot point level above it and below
Example- R3, MID, R2, MID, R1, MID, PIVOT POINT, MID, S1, MID, S2, MID, S3
With this indicator you will also have the option to show the Previous days High and Low that are also important levels. On gap up/down days it is always interesting to see if price will close the gap, hence the important level to note.
PDH= Previous Days High
PDL= Previous Days Low
I have added a feature that you can now select specific color to each level and the line style for each level to help understand which levels are being show by personal needs.
Happy Trading
CPR UJHi i am UJ, This is Central Pivot Level which includes Daily , Weekly , Monthly Range You have to choose the range in indicator setting.
Upper red line is resistance , Lower green line is support you can buy if resistance broken , sell if support is broken go with price action or SMC confirmation which ever strategy you use indicator only indicates it wont work 100% , your accuracy will improve if you combine indicator with strategy.
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.
PivotBoss Tool (PART 1)Hello Everyone,
This indicator is being published on TradingView to help traders solve their multiframe analysis issue and at the same time get additional information of different timeframe like - Strength, Momentum and Central Pivot Range relationships all under one single frame.
This indicator is based on the concepts of Secrets of Pivot Boss by Mr.Frank Ochoa and strives to provide more insightful information of pivot points and other general indicators being used by traders on day-to-day basis in the simplest format possible so that traders of all kinds can relate to the same.
Below is the brief information of the indicator table you see in the layout of the above chart -
-This is the most interesting part of the indicator where the user gets to the Pivot Trend, RSI strength and Central Pivot Range (CPR) relationship all under one table which comes to be very handy during Intraday trading and Swing/Positional Trading.
#Pivot Trend
This column gives the user the information regarding price movement near to pivot points across multiple timeframes in a single frame which gives the user the accessibility to track the trend in different time frames, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
- GREEN (Above H3)
- GREY (Between H3-L3)
- RED (Below L3)
#RSI
This column gives the user the information regarding price movement near to RSI values across multiple timeframes in a single frame which gives the user the accessibility to track the momentum in different time frames, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
- GREEN (Above 70)
- GREY (Between 30 to 70)
- RED (Below 30)
#Central Pivot Range (CPR) Relationship
This column gives an idea of the trend direction and intensity which is exactly formulated according the concepts of PivotBoss Book and it also states the relationship of CPR's with customisable colour codes in the indicator settings, to make the information readily available colour code are included in the table which is customisable in the hands of the user and below is the explanation for the same -
There are generally six possible relationships for CPR compared to previous CPR where the timeframe can be variable but the relationship identification stays constant which is depicted as below -
- GREEN
1) Dark Green denotes "Higher Value CPR Relationship"
2) Light Green denotes "Overlapping Higher Value CPR Relationship"
- RED
3) Dark Red denotes "Lower Value CPR Relationship"
4) Light Red denotes "Overlapping Lower Value CPR Relationship"
- GREY
5) Denotes "Outside Value CPR Relationship"
- YELLOW
6) Denotes "Inside Value CPR Relationship"
This is a very basic tool created to identify Strength, Momentum and Central Pivot Relationship (CPR) across different timeframes so that the user is able to identify the broader aspect of the stock in a single frame and thus can execute his trading skills with optimum efficiency.
This indicator will be updated with time and depending on community's feedback and requirements.
Credits -
- Mr. Frank Ochoa (Concepts and ideas from the book 'Secrets of PivotBoss' )
- TradingView (Providing a platform to traders to simply their trading through 'PineScript')
Regards,
Mukkull
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!
Future Pivots CPR - All Timeframes
Simple idea that allows you to display tomorrow CPR/ Standard Floor Trader Pivots based on the high, low and close of today session. Likewise, it works for higher timeframes taking into account the high, low, close of the period (e.g. weekly, monthly, year).
Just be aware that -regardless of the timeframe- if the period is still in development, the indicator will constantly/ live update the values until the period is closed!! This indicator is meant to be used when preparing for the next trading period. If you want to use it live, I'd suggest using the function of this indicator which allows to display only current/closed pivots-
Similar to other script I published, this indicator lower timeframes (Daily and Weekly) will work with lower timeframe bars, this is the Minutes and Hour bars. Conversely, higher timeframe CPR/Pivots will work better with timeframes/charts from Daily and above.
Available tick/untick functions:
- Select timeframe
- Show current CPR & Support/Resistance
- Show tomorrow CPR & Support/Resistance
- Display historical CPR (CPR only)
- Show extended support and resistance lines (S2,S3,R2,R3) for current and future pivots.
Amit Advance CPRthis indicator shows the CPR along with the pivots for the next day and in the live market. It would be easy to see the favorite stocks CPR in advance.
SMA_EMA_CPR_PivotThis Script can do multiple jobs in single indicator.
Like -:
Plot 3 SMA as per your inputs.
Plot 3 EMA as per your inputs.
Plot CPR Levels.
Plot Pivot Levels.
Plot Previous Day High Low.
Indicator can used in Intraday stock trading, Positional Trading and options trading.
Please Enjoy.
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
SMA_EMA_CPR_PivotThis Script can do multiple jobs in single indicator.
Like -:
Plot 3 SMA as per your inputs.
Plot 3 EMA as per your inputs.
Plot CPR Levels.
Plot Pivot Levels.
Plot Previous Day High Low.
Indicator can used in Intraday stock trading, Positional Trading and options trading.
Please Enjoy.
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.
IPB_JPMUPS_2022Introduction :
This indicator serves two purposes
a) It is a multi dimensional floor pivot indicator, which takes its concepts from Secrets of Pivot Boss book of Frank Ochoa. Most of the indicators suggested in the book are packed in one indicator.
b) It also has an inbuilt intraday strategy which identifies trend, direction and momentum based on CPR (Central Pivot Range) concepts and accordingly comes up with trading signals.
How this indicator is different from the published ones :
A). Role as an indicator
This indicator has all the CPR (Central Pivot Range) indicators packed together which provides a ready made solution for CPR based trading. The following are the salient features of this indicator :
1) This indicator plots daily CPR using previous day high, low and close. It also plots Support and Resistance levels based on floor pivots formula.
Moreover, it also plots developing CPR which is based on current day's high, low and close. Apart from that it also plots CPR for next day session as well which is useful for EOD analysis.
2) This indicator plots weekly CPR using previous week high, low and close. It also plots developing CPR which is based on current week's high, low and close.
3) This indicator plots monthly CPR using previous month high, low and close. It also plots developing CPR which is based on current month's high, low and close.
4) This indicator plots pivot EMA which is called PEMA. It uses three different EMAs which are customisable and uses them to plot a moving average web based on pivot points of each candle, which is called as PEMA. This also facilitates PEMA plotting for higher time frame (daily time frame) as well.
5) This indicator plots daily time frame moving average in intraday chart which can be used as a key zone during trading. The period is customisable.
B) Role as a strategy
This indicator also functions as an intraday trading strategy called JPMUPS (JP stands for author's nickname. MUPS stands for Manoj Ultimate Pivot Strategy). This strategy attempts to identify trend, direction and momentum and when all these three align together it gives buy and sell signals. The concepts are as under:
Trend identification :
Whenever a trend is established, the developing CPR starts to widen. Hence this strategy uses the width of the developing CPR and compares it with the MA of the width to identify the trend. If the width of the developing CPR crosses the 34 period MA (can be customised), it assumes a trend is developing.
Direction identification:
Whenever a direction is established, the CPR components, namely BC and TC shifts its position. Hence this strategy uses this concept to identify the direction. It computes MACD sort of histogram of the BC and TC difference and whenever the histogram slops upwards, it assumes bullish direction and vice versa.
Momentum identification :
Whenever momentum is established, the developing CPR starts sloping upwards. Hence this strategy uses this concept to identify the momentum. It computes RSI of the developing CPR and if the RSI is above the 34 period MA (can be customised) of RSI , it assumes momentum is establishing and vice versa.
When all the above are aligned together, it gives buy or sell signals suitably.
How to use it :
a) Indicator usage :
1) CPR zones are key zones which predominantly acts as support and resistance zones. Looking at the price action at these zones, one can look for trading opportunities in live market.
2) Developing CPR acts as pull back zones and is very useful in live trading and also EOD analysis for spotting opportunities by combining price action.
b) Strategy usage :
1). Strategy signals are only indicative. Users are strongly advised not to use the strategy blindly. Users are advised to go though the CPR concepts thoroughly and use this strategy signals only as a supplement for further decision making / analysis.
Markets meant for :
1). This indicator and Strategy is predominantly designed for I ndian stock markets . However it can be customised for other markets as well by changing the timings of the markets in the parameters.
Market conditions meant for :
1). This indicator is meant for all types of market conditions as its predominant role is to plot the key support and resistance zones using CPR concepts.
2). The strategy is mainly found to be effective in trending markets and predominantly indices like Nifty and Bank Nifty . Hence Users are advised to use this only as an indicative feature and not blindly trade based on signals. The strategy is found to be less effective in lower time frames like 1min / 3min, etc. 15 min time frame provides fair performance. However it doesnt mean that it will continue to perform in the same manner in the future.
ViVen - EXP - Signals with AlertsHi Friends,
Here the trading made easy with Signals...
The main purpose of this indicator is to identify the Support and Resistance levels well in advance to make ourselves ready for the Entries with confidence..
With this indicator we will be able to identify the Market Structure and Trend to initiate our trades.
Multi Timeframe Concepts are considered in some cases to capture the Golden Zones.
Details of the Indicator:
Method of Trading – Intraday, Positional or Swing – Indices, Stocks and Commodity Markets
Golden Zones : When two or more indicator levels are confluences at one price point which will act as Strong Support and Resistance in the Market. That is called Golden Zone.
CPR & Pivot (Daily / Weekly / Monthly) – Based on the previous Timeframe values, it will automatically calculates the Support and Resistance values for the upcoming Sessions.
BUY / SELL Levels (W-Refers the Weekly levels) – Possible Reversal in the market we can expect at this price level. Depends on the Time frame (Daily/Weekly)
Bull BO / Bear BO (W-Refers the Weekly levels) – Possible Breakout level, If breakout happens price will move to reach the Target 1 and 2 Points based on which side the price breaks ( BULLISH / BEARISH ). We can initiate our BUY/SELL Entries.
Target 1 & Target 2 – Once the Price breaks the Breakout (Bull BO / Bear BO) levels, it will try to reach the Target Points where we can book our profits.
Tomorrow Levels - This will help us to enable the next day trading session Support and Resistance Levels in advance to do pre-analysis to prepare for the Entry and Exits.
Colored Candles : Lime Green and Violet colored candles will indicate the Possible Trend Reversals.
Triangles : Orange and Violet triangles will indicate the Confirmation of Trend Reversal.
BUY / SELL Signal – Considering the momentum and the Trend change it will suggest the possible entry time.
Dashboard :
1. Weekly Trend : This will indicate how the current week trend is going to be – Trending / Sideways
2. Today – Current Session expectation in the Market ( Bullish / Bearish )
3. Sentiment – Indicates the Traders mind set (Positive/Negative Side)
4. Range - This will indicate how the current Day trend is going to be – Trending / Sideways
5. MB / MA Trend – This identifies the major trend (Is the Stock / script in Up Trend or Down Trend)
6. Other Parameters – Will indicates the present situation in the market
7. RSI Values – This is to know and understand the momentum of the particular script
Levels Name Explanations:
1. DPP – Daily Pivot Point
2. WPP – Weekly Pivot Point
3. WTC – Weekly Top Central Pivot
4. WBC – Weekly Bottom Central Pivot
5. PDH – Previous Day High
6. PDL – Previous Day Low
7. PWH – Previous Week High
8. PWL – Previous Week Low
9. PMH – Previous Month High
10. PML - Previous Month Low
11. WR1, WR2 – Weekly Resistance Levels 1 & 2
12. WS1, WS2 – Weekly Support 1 & 2
13. 5m 200 EMA – 5 Minutes 200 Period Exponential Moving Average
14. 15m 200 EMA – 15 Minutes 200 Period Exponential Moving Average
15. 1H 200 EMA – 1 Hour 200 Period Exponential Moving Average
16. 1H 200 SMA – 1 Hour 100 Period Simple Moving Average
17. 1D 200 EMA – Daily TF 100 Period Exponential Moving Average
Settings:
To turn ON and OFF any of these levels if it does not require, Go to Indicator Settings and disable the specific levels.
Alerts:
You can enable the Buy / Sell signal Alerts by creating new alert.
To Access the Indicator:
If you want to know more about the indicator & to access for your trading please check the link in the signature below.
If you have any doubts please mention it in the comment section.
Looking forward your valuable comments and feedbacks to improve further in accuracy of our Trading.
Thanks!!
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
MarketVision Screener█ OVERVIEW
• Screens 36 Assets at Once
• This Screener is Unique in that it turns my MarketVision series of Indicators Into a Complete Trading System
• To help you Automatically find Possible Turning Points in the Market the Following MarketVision Parameters are Displayed
o Linear Regression Direction and whether Price can be considered Over Bought / Sold according to the Linear Regression Channel (This works exceptionally well if used in confluence with manually drawn Fibonacci retracements)
o RSI value and Over / Very Over Bought / Sold condition
o Trend Meter – Shows Condition of the Trend Meter and its associated Trend / Money Flow Bar
o Wave Trend Crossing Condition taken from MarketVision B or Cipher B
o Wave Trend Divergences
o Super Trend Direction – Not a usual MarketVision parameter but it helps
• Furthermore you can choose where abouts on your chart you want the Screener displayed – this allows for multiple Screeners on one chart
█ HOW TO USE IT
• Look for Confluence between different parameters,
• For example Linear Regression Pointing Down and Price Over Bought according to both RSI and Linear Regression Channel, this is where you can look for maybe a Wave Trend cross down or a specific Candle Stick Pattern on you Chart with a Divergence
• Other confluences that work well are Trend Meter cross at the same time as a Wave Trend cross – Look for This Symbol "⯅ ⬱🡅⇶" or "⬱🡇⇶ ⯆"
• There are many possibilities the rest is up to you and your Trading Style / System
• Feel the Power
█ LIMITATIONS
• Can Not Set Alerts at This Stage – This is for a future Update or Script
• Slow Loading Time – As this is a rather long script Loading time is dependent on Internet Speed and your Computer Hardware
█ CREDITS
• Tradingview for the Pine Script Engine found under the hood of these amazing scripts
• QuantNomad and Others for their pioneering work making it possible to bring these sorts of advanced scripts to life
█ DISCLAIMER
• Not Financial Advice BUT
• Always use Proper Risk / Money Management – Never Risk more than you can Afford to Lose, Preferably not more than 1% - 2% of your Account
• Do Not FOMO or Revenge Trade
• Please remember that Past Performance may not be indicative of future results
Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical Back Testing
CPR by Hindustani Sandeep MalikThis script is based on the Secret of Pivot Boss book by Frank Ochoa.
You can view the Daily timeframe CPR/s1-s5 support/r1-r5 resistance.
You can view the Weekly timeframe CPR/s1 support/r1 resistance.
You can view the Monthly timeframe CPR/s1 support/r1 resistance.
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 BY DTTThe Central Pivot Range Indicator was created by Mark Fisher in his The Logical Trader book with some improvements made by Frank Ochoa. This indicator can seem very simple at first since it is a variation of the typical pivot points you see but this indicator aims to capture much data for the market sentiment for each stock that I will go over in detail. This indicator is known as the swiss army knife of pivots for a good reason.
First, this indicator will let you know one method of finding the current trend of the stock by determining where the price lies in comparison with the Central Pivot Range. If the price isn't touching and is above the Central Pivot Range then this stock is in a big uptrend that has a high chance of it continuing. Same for the reverse if the price isn't touching and is below the Central Pivot Range. Another method is when the current Central Pivot Range for the current period is higher than the previous Central Pivot Range and this means that the stock is in an uptrend and vice versa.
Second, you can tell much about if this stock is currently in a trending or sideways market by looking at the spacing between the 3 lines. If there is a bunch of space between each line then the stock is currently in a sideways market or in other words not much volatility. If there is very little space between each line then the stock is currently in a trending market and this means much volatility and so you need to trade in the direction of the current trend.
Finally, this indicator works as a general support and resistance system like a typical pivot point indicator and so you would go long if the price breaks through the resistance level which would be the top line or go short if the price breaks below the support level which would be the bottom line.
I have included many options in my script to allow you to see other support and resistance levels like extended pivot points, high and low points, and pivot points using data that will project what tomorrow's pivot points will look like. Let me know if you find any other uses for this indicator and of course if you have any questions for me!
Nareshraju CPRHi friends this is Cpr indicator which means central pivot range. it contains supports and resistances to take perfect entry.
