MF_Crypto

[MF] CURRENT AND NEXT CPR LEVELS

This is CPR with Monthly, Weekly and Daily time frames of the current and next* CPR levels.
* The following lines only become relevant at the end of the cycle.

CPR LEVELS:
P ( pivot point ) = (H + L + C) / 3
BC (Bottom Central) = (H + L) / 2
TC (Top Central) = (P - BC ) + P

Resistance Levels
- Green = R1 Levels ( 2×P - L )
- Green = R2 Levels ( P + (H - L) )
- Green = R3 Levels ( H + 2 * (P - L) )

Support Levels
- Red = S1 Levels ( 2×P - H )
- Red = S2 Levels ( P - (H - L) )
- Red = S3 Levels ( L - 2 * (H- P) )

Description and Refrences:
https://en.wikipedia.org/wiki/Pivot_poin...(technical_analysis)

Rules For BUY Setup with CPR
1) Today's Pivot Level Should be higher than Previous Day's Pivot Level
2) The previous day's close should be near day high.

Rules For SELL Setup with CPR
1) Today's Pivot Level Should be lower than Previous Day's Pivot Level
2) The previous day's close should be near day low.

CPR or central pivot range is the best tool available for the trader to see the price base indicator. You can use this tool i.e CPR (central pivot range) to check the price indicator in the stock market. You know the price of shares sometimes goes up or sometimes goes down in the stock market. So it will be best to stay updated and know it before the time the share market/stock market fall or rises.
Catatan Rilis: Update:
- Added Labels of Current Lines
- Fixed error of negativ Support Lines
Catatan Rilis: Update:
- Show previous High & Low
Catatan Rilis: Added Mid Levels of Resistance and Support

Resistance Mid Levels
R23 = (R2 + R3) / 2
R12 = (R1 + R2) / 2
RP1 = (P + R1) / 2

Support Mid Levels
SP1 = (P + S1) / 2
S12 = (S1 + S2) / 2
S23 = (S2 + S3) / 2
Catatan Rilis: - Fixed error of monthly close
Catatan Rilis: bugfix:
If BC is higher than TC the positions are swapped
Catatan Rilis: ...
Skrip open-source

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.

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