CPR INDICATOR
Central pivot range or CPR indicator is a popular indicator developed from pivot points. It is developed from floor pivots. Cetral pivot is taken as a range with upper and lower bar.
It is a popular indicator among intraday traders and future and option traders. There are a few concepts developed based on this indicator, that can be used to find trend , support and resistance. You can easily develop a trading strategy based on these concepts and use it in you intraday trading.
Recently Vikram of pivot call and Gomathi shankar of CPR by KGS made this indicator popular in India with their videos and courses. We can also see this concept in Ashwini Gujral's book about intraday trading. I personally used it for nifty and bank nifty option trading with good succes rate.
Normally in CPR, along with normal floor pivot and support and resistance, we use a 20 moving average also.
How to setup CPR in Tradingview
There are many CPR indicators in tradingview public library. CPR By KGS is a popular one. We have also developed our own one. Search CPR indicator by Prabil. You can find it.
How to add CPR indicator in tradingview chart
Click indicator button at top of the chart and search for CPR indicator in public library. Normally CPR indicator contains central pivot range, support lines and resistance lines. These indicators may also contains previous high and lows and some EMAs. CPR by KGS normally uses 20 period EMA.
After adding CPR indicator to chart, you can change its settings if you want by clicking settings button near indicator name. You can remove some lines, change colors, line thickness etc using these settings. Too many lines may be confusing sometimes. You can disable some less important pivot lines and adjust EMA settings as per your need.
Share market malayalam youtube channel's todays video is about setting up CPR indicator in trading view, customising it and developing your own CPR indicator with pine script. It also explains how you can connect tradingview platform with fyers for algo trading. Video is in Malayalam language. But you can easily understand the procedure even if you dont know malayalam. If you want Hindi or English subtitles there, please comment below the video in youtube. I will include soon.
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