Overview

Central Pivot Range (Weekly) is a powerful tool designed for day and swing traders who rely on precision and simplicity. By calculating the Central Pivot Range (CPR) from the previous week’s high, low, and close, this indicator provides a visual framework to analyze market structure and identify key trading levels. Perfectly suited for intraday and swing trading, it empowers traders to anticipate market behavior and react effectively.

Plot

This indicator is optimized for day trading on timeframes below 1D, such as 4 hours or even 5-minute charts, ensuring precise analysis for active day and swing traders.

Example:

Plot on a 15 min chart (AAPL): the third CPR from the left shows a change of bias, thus from an uptrend to a downtrend

Key Features

• Daily Precision: Focused entirely on the Central Pivot Range for intraday and swing trading.
• Real-Time Adaptation: Dynamically adjusts to reflect daily market conditions.
• Intraday Focus: Best suited for stocks, forex, futures, and other instruments.
• User-Friendly Interface: Simple to use and highly informative.

Benefits for Traders

• Identify the Central Pivot Range (CPR) to understand market bias.
• Spot reversal or breakout zones with greater accuracy.
• Enhance timing for entries and exits with clear visual levels.
• Utilize the CPR for trend and range-bound market strategies.

How It Works

The indicator calculates the Central Pivot Range (CPR) based on the previous week’s high, low, and close:

• Central Pivot (CP): (H+L+C) / 3
• Bottom Pivot (BP): (H+L) / 2 (i.e. the midpoint of the previous week)
• Top Pivot (TP): (CP – BP) + CP

These levels act as actionable zones where price activity is most likely to occur, providing traders with a consistent framework for decision-making.

Settings

• CPR: Plots the Central Pivot Range based on the previous week. This will be already available at the beginning of each week.
• LABELS: Adds clear labels to each level for easier reference.
• NEXTCPR (Optional): Shows the developing CPR for the upcoming week.

Who Can Use It?

• Day traders who focus on intraday precision.
• Scalpers looking for actionable and reliable zones.
• Swing traders integrating weekly CPR into broader market analysis.
• Active traders looking for potential confluence levels

Reference

The concept of the Central Pivot Range is derived from established pivot-based trading methodologies, including those popularized by Frank Ochoa.

This indicator has been independently developed and optimized for ProRealTime users.