OPEN-SOURCE SCRIPT
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!
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!
开源脚本
本着真正的TradingView精神，此脚本的作者已将其开源，以便交易者可以理解和验证它。向作者致敬！您可以免费使用它，但在出版物中重复使用此代码受网站规则约束。 您可以收藏它以在图表上使用。
想在图表上使用此脚本？
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。