CPR with Trend by Prathap

The Central Pivot Range ( CPR ) is an indicator to identify key price points to set up trades. CPR is beneficial for intraday trading.

The CPR consists of three components –
Pivot Points ( PP )
Bottom Central Pivot ( BC )
Top Central Pivot ( TC )

These are derived out of the underlying’s High, Low, and Close calculations –
Pivot = (High + Low + Close)/3
Bottom CPR = (High + Low)/ 2
Top CPR = ( PivotBC ) + Pivot

CPR helps you identify the S&R pattern
It is considered bullish if the current market price is higher than the UT line.
It is considered bearish if the current market price below the DT line.
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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