CPR by Ask Dinesh Kumar
Many developers contributed on CPR and EMA in Tradingveiw. By combing and adding some feature I developed a setup using CPR and EMA with Open and Close. Here I thankful to all whom I inspired to develop this setup.
CPR and Floor Pivot are very powerful tool. I learn the pivot range through book “Secrets of a Pivot Boss” by Franklin O. Ochoa. He gives Pivot range theory in very detail and shows how he combines the range with EMA to profit in the market.
This tool is very effective as it gives us proper entry and exit points with minimum stop-loss, This tool combines current day opening, previous day close, Central Pivot Range with different support and resistance levels for making proper entry and exit positions along with combination of Important Exponential Moving Average lines which further gives conformation to make entry and exit positions.
The Pivot Range formula is below; where TC is the top central pivot , BC is the bottom central pivot , and Pivot is the central pivot point:
TC = ( Pivot – BC ) + Pivot
Pivot = (High + Low + Close)/3
BC = (High + Low)/2
• On the basis of this combination of tool first we have to focus on current day opening, if current day opening is just above CPR line and first or second candle closes above the current day opening we have to make our buying position with stop-loss just below of entry candle for the target of immediate next CPR level that is R1 or R2 levels, while making our entry we have to further verify closing price must be above these three exponential moving average line that is 20, 50, and 200 ema. this type of entry gives us high probability of winning trade.
• Vice versa if current day opening is below CPR level and first or second candle closes below current day opening we have to make our selling position with stop-loss just above our entry candle for the target of immediate next CPR level that is S1 or S2 levels, while making our entry we have to further verify closing price must be below these three exponential moving average line that is 20, 50, and 200 ema. this type of entry gives us high probability of winning trade.
• When price is in between CPR and current day opening we have to avoid trading position, we have to wait patiently for price to give conformation of our above two entry condition for high success rate.
• When there is wider CPR we have to avoid trading in that particular scrip, we have to always check for narrow CPR, Narrow CPR gives us indication for big move in either direction.
• CPR ( Central Pivot Range) is a neutral zone, If price is in between CPR price may move in either direction so when price is in between CPR we have to avoid making any trading position.
• If CPR is in between previous day close and current day opening whatever entry position we will get considering above conditions will be a high probable winning trade.
• Previous day high and low gives us the the range for trading , if price breaks this range we will get range breakout and when there is a range breakout our trade will be a high probable trade considering our entry criterion must be satisfied.
CPR and Floor Pivot are very powerful tool. I learn the pivot range through book “Secrets of a Pivot Boss” by Franklin O. Ochoa. He gives Pivot range theory in very detail and shows how he combines the range with EMA to profit in the market.
This tool is very effective as it gives us proper entry and exit points with minimum stop-loss, This tool combines current day opening, previous day close, Central Pivot Range with different support and resistance levels for making proper entry and exit positions along with combination of Important Exponential Moving Average lines which further gives conformation to make entry and exit positions.
The Pivot Range formula is below; where TC is the top central pivot , BC is the bottom central pivot , and Pivot is the central pivot point:
TC = ( Pivot – BC ) + Pivot
Pivot = (High + Low + Close)/3
BC = (High + Low)/2
• On the basis of this combination of tool first we have to focus on current day opening, if current day opening is just above CPR line and first or second candle closes above the current day opening we have to make our buying position with stop-loss just below of entry candle for the target of immediate next CPR level that is R1 or R2 levels, while making our entry we have to further verify closing price must be above these three exponential moving average line that is 20, 50, and 200 ema. this type of entry gives us high probability of winning trade.
• Vice versa if current day opening is below CPR level and first or second candle closes below current day opening we have to make our selling position with stop-loss just above our entry candle for the target of immediate next CPR level that is S1 or S2 levels, while making our entry we have to further verify closing price must be below these three exponential moving average line that is 20, 50, and 200 ema. this type of entry gives us high probability of winning trade.
• When price is in between CPR and current day opening we have to avoid trading position, we have to wait patiently for price to give conformation of our above two entry condition for high success rate.
• When there is wider CPR we have to avoid trading in that particular scrip, we have to always check for narrow CPR, Narrow CPR gives us indication for big move in either direction.
• CPR ( Central Pivot Range) is a neutral zone, If price is in between CPR price may move in either direction so when price is in between CPR we have to avoid making any trading position.
• If CPR is in between previous day close and current day opening whatever entry position we will get considering above conditions will be a high probable winning trade.
• Previous day high and low gives us the the range for trading , if price breaks this range we will get range breakout and when there is a range breakout our trade will be a high probable trade considering our entry criterion must be satisfied.