OPEN-SOURCE SCRIPT
CPR with Developing Pivot Range
This Developing Pivot Range(DPR) made by Saravanan_Ragavan based on Pivot Boss Developing Pivot Range Concept. This indicator will show how the CPR is developing during the day. Also it shows how trend developing. range fills with green and widening in up trend, wise versa range fills with red and widening in down trend.
Pivot Boss described as following about this indicator:
The Developing Pivot Range (DPR) indicator dynamically calculates the central pivot range in real time as new data enters the market bar by bar. Essentially, this indicator allows you to see the “meat of the market” as the day’s trading activity is taking place. More importantly, however, the closing values for the indicator tell you where the central pivot range will be located for the following session, which paves the way for analyzing extremely important two-day pivot range relationships and key width characteristics. Having this information in advance allows us to prepare properly for the
upcoming session.
Note: Today Session end DPR become Tomorrow's CPR.
Hope this Helps you!
Pivot Boss described as following about this indicator:
The Developing Pivot Range (DPR) indicator dynamically calculates the central pivot range in real time as new data enters the market bar by bar. Essentially, this indicator allows you to see the “meat of the market” as the day’s trading activity is taking place. More importantly, however, the closing values for the indicator tell you where the central pivot range will be located for the following session, which paves the way for analyzing extremely important two-day pivot range relationships and key width characteristics. Having this information in advance allows us to prepare properly for the
upcoming session.
Note: Today Session end DPR become Tomorrow's CPR.
Hope this Helps you!
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
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