CPR PRICE ACTION TODAY AND TOMMOROW

The CPR PRICE ACTION TODAY AND TOMMOROW indicator provides a comprehensive pivot-based framework for intraday traders to visualize Central Pivot Range (CPR) levels and classical support/resistance for current, historical, and future sessions.

Usage

This tool is primarily used for intraday price action analysis. Traders can identify "virgin" CPR levels, trend strength based on the width of the pivot range, and potential reversal or breakout zones using the R1-R3 and S1-S3 levels. By projecting "Tomorrow's CPR," users can prepare for the upcoming trading session's bias before the market opens.

Examples of usage include:

• Trend Identification: A narrow CPR often suggests a potential breakout or trending day, while a wide CPR suggests a sideways or range-bound market.
• Support & Resistance: Using R1, R2, R3 and S1, S2, S3 levels as targets or entry points.
• Contextual Levels: Toggling Previous Day High/Low (PDHL) and Previous Day Close (PDC) to identify key liquidity zones.

Details

The indicator is based on the concepts from "Secrets of a Pivot Boss" by Frank Ochoa. It calculates the three main components of the CPR:

1. Pivot (P): (High + Low + Close) / 3
2. Bottom Central (BC): (High + Low) / 2
3. Top Central (TC): (Pivot - BC) + Pivot

The script includes logic to handle weekends and specific holidays to ensure the "Tomorrow's CPR" projections accurately reflect the next valid trading day.

Settings

• Show tomorrow's CPR: Toggles the projection of the next session's pivot levels based on current price action.
• Show historical CPR: Displays previous sessions' CPR levels on the chart for backtesting and context.
• Show R3 & S3: Enables or disables the third level of support and resistance.
• Show previous day's High & Low: Plots horizontal lines representing the high and low of the previous trading session.
• Show previous day's Close: Plots a horizontal line representing the closing price of the previous session.

FAQ

How do I access CPR PRICE ACTION TODAY AND TOMMOROW?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

Can I use this for weekly or monthly timeframes?

While the script focuses on daily/intraday levels, the core logic is designed for intraday traders looking at daily pivots.

Why is the "Tomorrow's CPR" line moving?

Tomorrow's CPR is calculated using the current day's high, low, and close. Until the current session closes, these values (and the resulting projection) may shift as new price extremes are reached.