# Daily CPR levels
# Weekly CPR levels
# Monthly CPR levels
# Previous Day High and Lows
# Previous Week Highs and Lows
# Previous Month Highs and Lows
# with inner Levels
# CPR Levels for the next Day, Week and Month
# 5 Simple moving averages and 5 Exponential Moving Averages
What separates this script from other scripts with CPR and Moving averages?
# One of the few indicators (if not the only one) which combines the 2 types of Moving Averages, CPR and also .
# CPR Levels for not just the next Day, but for next Week(Weekly CPR ) and Month(Monthly CPR ) also.
# Hide the previous day's levels according to your wish. This is the most unique feature of this indicator. You can set the number of Daily CPR levels you want to load in the chart. This is not just for the Daily CPR but also for the Weekly and Monthly CPR also. This makes the chart less cluttered and prevents the candles from getting buried in the indicators. Please notice how the previous day's CPR levels are hidden in the displayed demo chart on the script page. In the chart, only one trading day's data is shown(by default).
# This script is OPEN SOURCE.
For CPR & Strategies for intraday trading and swing trading refer to the book 'Secrets of a Boss: Revealing Proven Methods for Profiting in the Market' by Franklin O. Ochoa.
Moving averages strategies :
Moving averages can be combined and also used individually for several strategies
* 9 can be used as trailing stop loss for strong moving trends that helps you to catch big moves.
* 20sma can be used not just trailing stop loss but also for taking re-entry to the trend.
* Golden cross - The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside. This indicates a turn in the market. Eg: 50 cuts 200 from below.
* Death Cross - The death cross occurs when the short term moving average crosses the long-term average from above. This indicates a turn in the market. Eg: 50 cuts 200 from above.
* When 20 is above 50 and 20 and 50 are angling up like parallel lines, then it denotes strength. If this happens right after Golden Cross, big moves to the upside can be expected.
* When 20 is below 50 and 20 and 50 are angling down like parallel lines, then it denotes strength. If this happens right after Death Cross, big moves to the downside can be expected.
* When 20SMA and 50 are going flat and crossing each other, then it denotes sideways sentiment.
Moving average strategies are taken from the book 'How to Make Money in Intraday Trading' by Ashwani Gujral. For learning more about how to combine CPR and Moving averages in your trading please refer to this book.
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