CPR by VickyBobby

The CPR by VickyBobby indicator provides a comprehensive Central Pivot Range (CPR) and floor pivot system designed to identify high-probability support and resistance zones for intraday and positional trading. It integrates Daily, Weekly, and Monthly CPR levels with classical floor pivots and previous day reference points to offer a unified view of market structure.

Usage

The Usage section describes how the script can be used to identify trend potential and key price targets. Traders can use the CPR width and position to gauge market sentiment:

• Trend Identification: A narrow CPR (relative to previous days) often precedes a trending market, while a wide CPR typically indicates a consolidation or sideways day.
• Support and Resistance: The Central Pivot Range acts as a dynamic zone; staying above the Top Central (TC) level suggests bullish control with targets at R1–R4, while staying below the Bottom Central (BC) level suggests bearish control targeting S1–S4.
• Mean Reversion: The Pivot (P) level serves as the day's equilibrium; price often reverts to this level during range-bound sessions.
• Previous Day Levels: The Previous Day High (PDH) and Previous Day Low (PDL) are used as breakout or breakdown triggers.

Details

The indicator calculates levels based on the previous period's price action using standard floor pivot formulas:

• Pivot (P): (High + Low + Close) / 3
• Bottom Central (BC): (High + Low) / 2
• Top Central (TC): (Pivot - BC) + Pivot
• Resistance (R1-R4): Calculated using the Pivot and previous High/Low range.
• Support (S1-S4): Calculated using the Pivot and previous High/Low range.

The script includes an automated CPR Width Classifier that labels the session as "Narrow," "Normal," or "Wide" based on customizable percentage thresholds. It also features a "Tomorrow's CPR" projection to help traders prepare for the upcoming session based on current live data.

Settings

• CPR Settings: Toggles for Daily, Weekly, and Monthly CPR levels. Includes an option to project "Tomorrow's CPR" and display a preview table.
• Pivot Settings: Independent toggles for Resistance (R1-R4) and Support (S1-S4) levels.
• Previous Day Levels: Toggles to display Previous Day High (PDH), Low (PDL), and Close (PDC).
• Display Settings: Controls for label visibility, price display, line widths, and line styles (Solid, Dashed, or Dotted).
• Colors: Customizable color inputs for the Pivot, TC/BC, Support/Resistance levels, and higher timeframe CPRs.
• CPR Width Analysis: Inputs for Narrow and Wide thresholds (percentage-based) and table position settings for the info panels.

FAQ

How do I interpret the CPR width? A narrow CPR indicates a tight range in the previous session, suggesting a potential breakout or trending day. A wide CPR suggests a large range in the previous session, often leading to sideways price action.

Can I use this for swing trading? Yes, by enabling the Weekly and Monthly CPR levels in the settings, the indicator provides institutional-grade support and resistance zones suitable for longer-term analysis.

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