Pivot points are one of the most powerful indicators used in Technical analysis .
It is comprised of a pivot line surrounded by a series of support and resistance levels which helps in speculating the price movements.
The fundamental idea behind this indicator is that the particular day’s trading range captures everything about the market sentiment, and hence this range can be used to predict the price movement of the following days.
About CPR-
CPR is the Swiss Army Knife of pivots , and Like the Moon, the central pivot range controls the tides of the market- by ‘frank’.
The previous day’s high, low, and close prices are used to calculate the CPR levels for the current day. And these levels remain constant throughout the day.
This indicator was first introduced by Mark Fisher in this book “The Logical Trader”. Frank Ochoa added another dimension, central pivot point to this indicator.
About Virgin CPR-
If the price levels for a particular timeframe do not touch the CPR levels of the same timeframe, then that CPR is known as Virgin CPR.
There are a variety of ways you can use CPR indicator for your trading decisions. 1. CPR Breakout 2. CPR Width 3. CPR as Support and Resistance 4.Interpreting overall trend through CPR
Key Features of the Indicator-
Automatically draws Virgin CPR .
Shows Daily and Tomorrow’s CPR
Daily High & Low and Pivot support & Resistance
Daily, Weakly and Monthly CPR.
Daily, Weakly Monthly High and Low.
Options to Hide Historical Levels.
Moving Average.
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Added Option of Historical days Virgin CPR and Minimal Optimization.
Release Notes
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(New*) Added option to change the color of Narrow CPR, Now Indicator will Automatically Detects the Narrow CPR and change the color of that CPR. (New*) Added 3 Types of Moving Average.
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Added
Gap Border Function Indicator will Automatically detects gap border and Shift them for todays session, you can hide them for historical price action, can change the color & width of gap borders.
Shows Pivots for Whole Day / Entire Day at the Opening time of the Session to till the Session Close.
*Shows Label of Pivots with Price on the right side of the pivots, provides option to hide the price of label.
Release Notes
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Now FEATURES-
Virgin CPR with Selective Option for Historical Days.
Narrow CPR with Option to Change the Color.
Pivots for Entire Days at the time of session Starts.
Option to hide Historical Pivots.
Pivot Label with Price on the right side of Chart.
Historical Gap Borders with option to change the Color & Thickness.
Daily, Weekly , Monthly & Next day CPR.
Daily ,Weekly & Monthly High & Low.
Daily Support & Resistance.
Three Types of Moving Average with Option to Change the Length, Color & Type of Moving Average.