PriceCatch

PriceCatch Opensource CPR

Hi Friends & TradingView community.

Greetings to you.

Some traders like to use Central Pivot Range ( CPR ) in their chart for assessing price movement. It is usually used in combination with Pivot Levels.

Calculating CPR is a simple matter. There a few CPR scripts in the Public Library, but have the code hidden. I thought there may many users who may want to know how CPR is calculated and study it for use in their own scripts. So, here is the CPR script with the code. Use it as you please.

Note: CPR is plotted only on intra-day time-frames.
The light magenta (band) range is current day CPR .
The light blue (band) range is tomorrow's CPR projected for you today itself based on current day's price action and range.

Queries / feedback welcome.

All the best.

PS: The script is developed to the best of my ability and as with all indicators, you have to decide if it might be useful to you when adding to your chart.

The set up is the Edge!
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.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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