The indicator shows the width of the Central Pivot Range. Frank Ochoa call it It Pivot Range Histogram in his book. Use it in conjunction with the Central Pivot Range indicator.
Below is the interpretation of the reading.
CPR Width > 0.5 - Sideways or Trading Range Day, CPR Width > 0.75 - increases the likelihood of sideways trading behavior, CPR Width < 0.5 - Trending type of day, CPR Width < 0.25 - increases the likelihood of a trending market.
The above reading only increases the likely-hood of the possibility and not always right.
The issue I found is histogram is being created during each candle creation. So we have to wait for the first couple of bars to identify the width.
Is it possible to plot the histogram for the next day as we already get CPR from todays price? This will help anticipating the move for tomorrow along with tomorrow CPR.
UnknownUnicorn5882959
⋅
@vipicorp, The quick fix will be for you to check the values of the indicator. It will show you what the day value when the first candle itself is formed. Also, as you requested I will try to come up with the tomorrow's CPR width as well.
Happy trading
Thanks for the indicator.
The issue I found is histogram is being created during each candle creation. So we have to wait for the first couple of bars to identify the width.
Is it possible to plot the histogram for the next day as we already get CPR from todays price? This will help anticipating the move for tomorrow along with tomorrow CPR.