The Central Pivot Range (CPR) is absolutely, without a doubt, the most powerful part of the Floor Pivots indicator.
It has three lines, Upper line is called "TC", lower line is called "BC" and the Middle line is the "PP-Pivot Point"
Formula to Calculate CPR :
TC = (Pivot - BC) + Pivot
Pivot = (High + Low + Close)!3
BC = (High + Low)/2
At any given time,...
According to Franklin Ochoa in his book relating to pivot points, IGL today classifies as a good "breakway plan trade", since following condition is satisfied:
confluence of opening 15 min price:
1. breaching previous day range
2. breaching previous day R2
3. breaching current day R1
4. succesfully testing todays R1
5. Narrow range CPR stocks
