The Central Pivot Range (CPR) is one of the most versatile price-based indicators available to traders. This versatility makes this indicator a mainstay in my trading arsenal.
Some authors have called the pivot range the “meat of the market”, while others refer to the central pivot point as the “heartbeat of the indicator”. In my opinion, the central pivot range is the Swiss Army Knife of pivots. At any given time, the range can be support or resistance, it can forecast trending or sideways price behavior, dictate the day’s direction, or serve as an integral part of a trend.
Hello Gaurav. I never believe in some magical levels such as Fibonacci or pivots. The exception being high, low and close of the previous day, ofc. But your script convinced me to give it a shot.
I will conduct comprehensive testing during the weekend. So far I looked at four 5m days and it looks... convincing. Also thanks for leaving the code public. I might have some fun playing with it. Just a little picture of today's result.
gaurav_baheti
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Hey @greenmask9 thanks for your valuable feedback, I'm also working on converting same CPR Indicator but with fibonacci Pivot levels, soon will update.
OrcChieftain
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@gaurav_baheti, Cool, I will try that out after I test this one.
I will conduct comprehensive testing during the weekend. So far I looked at four 5m days and it looks... convincing. Also thanks for leaving the code public. I might have some fun playing with it. Just a little picture of today's result.