OPEN-SOURCE SCRIPT
Atualizado CPR-Based Fib S/R with Circles by Arthavidhi
📌 **CPR-Based Fibonacci S/R with Circles – Description**
This indicator combines the power of **CPR (Central Pivot Range)** and **Fibonacci ratios** to plot highly probable intraday and swing Support/Resistance levels derived from the **daily price structure**.
### 🧠 **How It Works**
* It uses the **Daily High, Low, and Close** to calculate the **Pivot Point** (P) as:
`P = (High + Low + Close) / 3`
* Then it calculates the **daily range**:
`Range = High - Low`
* Using this pivot and range, it derives both **Fibonacci-based Support and Resistance levels**:
* **Support levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 below pivot
* **Resistance levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 above pivot
These are **plotted as small colored circles** on your chart, with **labels on the left** for easy identification of each Fib level (e.g., "0.382", "1.618").
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### 📈 **How to Use It**
🔹 **Intraday or Swing Traders**:
* Use these levels to **anticipate reversals**, **breakouts**, or **targets**.
* The levels act like a **natural price magnet** — price tends to pause, bounce, or reverse near them.
🔹 **Entry/Exit Zones**:
* Combine with price action (like pin bars, engulfing, or inside bars) or volume near these levels to plan entries.
* **R1.618 and S1.618** are great for extended targets or aggressive reversal setups.
🔹 **CPR Center Line**:
* Acts as a key mean-reversion zone or midline. You can combine this with VWAP or RSI for confirmation.
---
### 🧩 **Best Practices**
* **Higher Timeframe Confluence**: Align this with HTF S/R or trendlines.
* **Use Alerts**: Combine this with price action alerting tools (manually or with separate indicators).
* **Do Not Use Alone**: For best results, combine with a strategy (e.g., Supply/Demand, VWAP bounce, Trendline breaks).
This indicator combines the power of **CPR (Central Pivot Range)** and **Fibonacci ratios** to plot highly probable intraday and swing Support/Resistance levels derived from the **daily price structure**.
### 🧠 **How It Works**
* It uses the **Daily High, Low, and Close** to calculate the **Pivot Point** (P) as:
`P = (High + Low + Close) / 3`
* Then it calculates the **daily range**:
`Range = High - Low`
* Using this pivot and range, it derives both **Fibonacci-based Support and Resistance levels**:
* **Support levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 below pivot
* **Resistance levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 above pivot
These are **plotted as small colored circles** on your chart, with **labels on the left** for easy identification of each Fib level (e.g., "0.382", "1.618").
---
### 📈 **How to Use It**
🔹 **Intraday or Swing Traders**:
* Use these levels to **anticipate reversals**, **breakouts**, or **targets**.
* The levels act like a **natural price magnet** — price tends to pause, bounce, or reverse near them.
🔹 **Entry/Exit Zones**:
* Combine with price action (like pin bars, engulfing, or inside bars) or volume near these levels to plan entries.
* **R1.618 and S1.618** are great for extended targets or aggressive reversal setups.
🔹 **CPR Center Line**:
* Acts as a key mean-reversion zone or midline. You can combine this with VWAP or RSI for confirmation.
---
### 🧩 **Best Practices**
* **Higher Timeframe Confluence**: Align this with HTF S/R or trendlines.
* **Use Alerts**: Combine this with price action alerting tools (manually or with separate indicators).
* **Do Not Use Alone**: For best results, combine with a strategy (e.g., Supply/Demand, VWAP bounce, Trendline breaks).
Notas de Lançamento
updated script with written level.Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Script de código aberto
No verdadeiro espirito do TradingView, o autor desse script o publicou como código aberto, para que os traders possam entendê-lo e verificá-lo. Parabéns ao autor Você pode usá-lo gratuitamente, mas a reutilização desse código em publicações e regida pelas Regras da Casa.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.