The 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!
Release Notes
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Added ability to disable central pivot range Fixed bug with latest bar not showing proper data
Release Notes
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Removed MACD as its added by mistake in old publish & Also updated indicator Name
Thanks for your efforts annaya Oka doubt annaya verea cpr tho compare chstuntea prev day cpr matramea next day ki continue avtundi apudu settings loki veli tomorrow vi kuda pedtea apydu oka cpr baganea vastundi kani apudu roju ki 2 cpr lu vastunai oka video cheyandi anaaya
daytradertelugu2_0
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@harivarma487, yes again there is some error am working on this, will surely edit
saikrishnakln
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@daytradertelugu2_0, anna idi ee time frame lo use cheyyali, 1 day time frame lo use avvada?
madhini41
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@saikrishnakln, scalping ki annaru kada 5 mint time frame lo
BHEEMA9014
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@saikrishnakln, please watch CPR. Video bro... it's available in our DTT channel
Cherry2668
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@saikrishnakln, already cpr technical indicate video lo chepparu kada only scalping kosam ani,,
harivarma487
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@daytradertelugu2_0, super annaya cpr, r1,r2,r3,r4 s1,s2,s3,s4 and candlesticks perfectly working but day high, day low work avadam ledu annaya
daytradertelugu2_0
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@harivarma487, select display M,W,D High & Low Andi , then untick monthly and weekly for daily levels
Oka doubt annaya verea cpr tho compare chstuntea prev day cpr matramea next day ki continue avtundi apudu settings loki veli tomorrow vi kuda pedtea apydu oka cpr baganea vastundi kani apudu roju ki 2 cpr lu vastunai oka video cheyandi anaaya