OPEN-SOURCE SCRIPT
MTF CPR
The Central Pivot Range (CPR) is a technical indicator used to identify key price levels, trend direction, and market volatility.
This script provides a comprehensive MTF CPR engine that tracks Daily, Weekly, and Monthly levels simultaneously. It identifies "Fair Value" through the Central Pivot Range, allowing traders to maintain a clear structural bias across multiple timeframes without switching charts.
Unlike fixed-ratio pivots, these Standard Deviations are projected based on the internal width of each specific CPR. This dynamic calculation ensures that volatility targets (SD levels) are relative to the market's current compression or expansion, providing more accurate exhaustion points.
The indicator offers total control over every timeframe independently. Users can customize the number of SD levels, the specific step-multiplier for each timeframe, and all visual properties including line width, color, and style to ensure maximum chart clarity.
Use it with VWAP for additional confluence.
This script provides a comprehensive MTF CPR engine that tracks Daily, Weekly, and Monthly levels simultaneously. It identifies "Fair Value" through the Central Pivot Range, allowing traders to maintain a clear structural bias across multiple timeframes without switching charts.
Unlike fixed-ratio pivots, these Standard Deviations are projected based on the internal width of each specific CPR. This dynamic calculation ensures that volatility targets (SD levels) are relative to the market's current compression or expansion, providing more accurate exhaustion points.
The indicator offers total control over every timeframe independently. Users can customize the number of SD levels, the specific step-multiplier for each timeframe, and all visual properties including line width, color, and style to ensure maximum chart clarity.
Use it with VWAP for additional confluence.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.