Dear Traders,
This script will get a smile on most of the pivot and price action traders.
My trading skills have drastically improved after learning the concepts of central pivot point, supply and demand and more importantly understanding of the simple candle stick patterns.
This is my experiment of decoding the above mentioned concepts to simple trading...
This is a all in one indicator for CPR + Moving Averages + Previous day/week/month high-low.
This is dedicated to every retail trader. "Together we grow as a price action trading community"
Thank you and regards, Gomathi Shankar
The Central Pivot Range (CPR) is one of the most versatile price-based indicators available to traders. ... At any given time, the range can be support or resistance, it can forecast trending or sideways price behavior, dictate the day's direction, or serve as an integral part of a trend.
Keep in mind that depending on the market’s behavior, the formula for TC...
unRekt Nexus HTF is a CPR 'Central Pivot Range' that uses the higher timeframes 3 Month, 6 Month and Yearly. Each TF can be turned on or off and the lookback periods can be selected to current or multiple periods.
unRekt Nexus LTF is a CPR 'Central Pivot Range' that uses the lower timeframes Daily, Weekly and Monthly. Each TF can be turned on or off and the lookback can be selected to current or multiple periods.
This script is based on Franklin O. Ochoa's "Secrets of a Pivot Boss". This script shows daily CPR with R1 to R4 and S1 to S4, previous day high, low, This script mostly works for swing, scalping and intraday.
Recommended to back test before use.
By using this script I will not accept liability for any loss or damage, including without limitation any loss of profit.
This helps in monitoring the support and resistance of the current day and plan for tomorrow's support and resistance. The formula for creating the indicator is as below.
Pivot Point (P) = (High + Low + Close)/3
Support 1 (S1) = (P x 2) - High
Support 2 (S2) = P - (High - Low)
Resistance 1 (R1) = (P x 2) - Low
Resistance 2 (R2) = P + (High - Low)
Floor...
