The Central Pivot Range width calculates the width of the Central Pivot Range (Top Pivot – Bottom Pivot) and assigns it a color based on average calculated on X periods.

It is recommended to utilise this indicator along with the Central Pivot Range indicator available in the store. 

The indicator should be added to a daily, weekly or monthly chart depending on trading style:

• Day trading: added to a daily chart, it refers to the CPR of the day (Daily_CPR) that you usually plot on a 1-15 min chart
• Swing trading: added to a weekly chart, it refers to the CPR of the week (Weekly_CPR) that you usually plot on a 30 min / 1hour chart
• Position trading: added to a monthly chart,  it refers to the CPR of the month (Monthly_CPR) that you usually plot on a daily chart

Each histogram shows the width of the CPR on that specific period. Based on an assigned color you may have:

• Blue histogram: the current CPR has Wide width as compared to average (that is specified as “PERIODS” in the settings fields); this indicates higher probabilities of sideways or trading range in the period ahead
• Pink histogram: the current CPR has  Narrow width as compared to average; this indicates an increase probability of expansion or trending period ahead.
• Grey histogram: the current CPR has Average width as compared to average; this indicates no particular price behaviour in the period ahead.

Hint: you might want to flag the “NEXTCPR” setting field to spot the upcoming CPR width for the next session and set your trading plan accordingly.

The CPR concepts have been taken from the book “Secrets of a Pivot Boss” by Frank Ochoa and made available on PRT through proprietary coding.

Please feel free to get in contact with me to deepen the trading methods behind its usage.