OPEN-SOURCE SCRIPT
Scalping CPR
Fetch Previous Day's Data:
Uses request.security to get the previous day's high, low, and close prices.
lookahead=barmerge.lookahead_on ensures the data fetched is fixed for the current session.
Calculate CPR Levels:
Pivot: Average of the previous day's high, low, and close.
Bottom Central Pivot (BC): Average of the previous day's high and low.
Top Central Pivot (TC): Derived from the pivot and BC.
R1 and S1: First resistance and support levels calculated from the pivot and previous day's prices.
Plotting:
Plots the CPR levels (pivot, BC, TC, R1, S1) on the chart with different colors.
Uses request.security to get the previous day's high, low, and close prices.
lookahead=barmerge.lookahead_on ensures the data fetched is fixed for the current session.
Calculate CPR Levels:
Pivot: Average of the previous day's high, low, and close.
Bottom Central Pivot (BC): Average of the previous day's high and low.
Top Central Pivot (TC): Derived from the pivot and BC.
R1 and S1: First resistance and support levels calculated from the pivot and previous day's prices.
Plotting:
Plots the CPR levels (pivot, BC, TC, R1, S1) on the chart with different colors.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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