scorpiomanoj

IndianPivotBoss_DPW

This is a Trend determinant based on Developing CPR width.

If Developing CPR width crosses its 20 day ema / 200 day ema , the market is likely to trend.

Release Notes: This indicator is a trend identification indicator based on developing pivot width of developing daily, weekly and monthly CPRs.

In general if the developing cpr width widens it implies a possible trending phase which is visually indicated in terms of background color. The thicker the color, stronger is the trend.

By default background color is based on both daily and weekly developing cpr width.

By default daily developing cpr width is plotted as line with a ma line. If the shorter line is sloping upwards it indicates a trend emerging and if it crosses or is above the longer MA and sloping upwards, the trend is even stronger. If all these happens above the threshold 0.33, then it further strengthens the possibility of continuation of trend.

As always usage of this indicator in isolation is not advisable.

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