The indicator shows the width of the Central Pivot Range. Frank Ochoa call it It Pivot Range Histogram in his book.
Use it in conjunction with the Central Pivot Range indicator.

Below is the interpretation of the reading.

CPR Width > 0.5 - Sideways or Trading Range Day,
CPR Width > 0.75 - increases the likelihood of sideways trading behavior,
CPR Width < 0.5 - Trending type of day,
CPR Width < 0.25 - increases the likelihood of a trending market.

The above reading only increases the likely-hood of the possibility and not always right.
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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

Hi,

Thanks for the indicator.

The issue I found is histogram is being created during each candle creation. So we have to wait for the first couple of bars to identify the width.

Is it possible to plot the histogram for the next day as we already get CPR from todays price? This will help anticipating the move for tomorrow along with tomorrow CPR.
+33 Reply
@vipicorp, The quick fix will be for you to check the values of the indicator. It will show you what the day value when the first candle itself is formed. Also, as you requested I will try to come up with the tomorrow's CPR width as well.
Happy trading
Reply
vipicorp UnknownUnicorn5882959
Reply
traderjackmeen0 UnknownUnicorn5882959
@UnknownUnicorn5882959, Yaah! Please. Awaiting for that since long time. Please do it.
Reply
GROWandPEACE UnknownUnicorn5882959
@UnknownUnicorn5882959, hi, did you made next day cpr width code ?
Reply
where are pivot in the indicator
+15 Reply
UnknownUnicorn5882959 UnknownUnicorn5012578
@UnknownUnicorn5012578, Hey sorry this indicator only has the CPR width. You can use the other indicator that i have published it will help you.
Reply
can you add one thing....the same for tomorrow i.e. the following day.
+4 Reply
Hi,
Can you add camarilla pivots to this code along with the daily pivots with labels
+2 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out