PROTECTED SOURCE SCRIPT
已更新 CPR BY DTT
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!
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!
版本注释
Added ability to disable central pivot rangeFixed bug with latest bar not showing proper data
版本注释
Removed MACD as its added by mistake in old publish & Also updated indicator Name受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用它，没有任何限制 — 在此处了解更多信息。
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受保护脚本
此脚本以闭源形式发布。 但是，您可以自由使用它，没有任何限制 — 在此处了解更多信息。
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。