This 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) )
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.
Notas de Lançamento
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Update: - Added Labels of Current Lines - Fixed error of negativ Support Lines
Thanks so much for your work. Would it be possible to configure how many pivot lines drawn (for D time frame 10 days pivot enough) ? and one click hide all lines drawn so that we can toggle to clean chart.
tezx
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Yes we can hide in chart but i am using other indicator alongside with this script
ar0918
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sometimes BC is above TC and P. Why is that? isnt the right order be like bottom is BC, then P and then top is TC?
MF_Crypto
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I also think that it is so, but I can only refer to the references from my sources, if you have better references, then please send me a link so that I can analyze it. en.wikipedia.org/wiki/Pivot_point_(technical_analysis)
@MF_Crypto, CPR is very very effective for day trading and I am looking for a reliable setup with minimal variables. Your CPR visualization is 100 times better than any other CPR indicators on TV. Hence I am looking it upside down to ensure that their are no glitches. Thanks for your support.
BullishHaramii
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@ar0918, Absolutely! Not a single CPR indicator is as good and neat as this one in entire TV library!
salmonpaul246
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hey nice script can you please add the feature to hide previous day pivot and next day pivot and only add when eve needed @MF_Crypto
Thanks so much for your work. Would it be possible to configure how many pivot lines drawn (for D time frame 10 days pivot enough) ? and one click hide all lines drawn so that we can toggle to clean chart.