The Daily and Weekly CPR Indicator for Trading

You can avoid 80 % losses by just avoiding entry in the CPR trap zones.

"Best trading secrets with CPR, Powerful Setups, and Proprietary Indicators. Secrets of a Pivot Boss brings a fresh approach to powerful concepts for intraday Trading." — Frank Ochoa

Best Powerful tool is the Daily and Weekly CPR (Central Pivot Range) indicator. 

Understanding the CPR Indicator:

The CPR indicator is a technical analysis tool used to identify potential support and resistance levels in a given market like Indian stock market, Forex Market and Commodity Market. It is based on the concept of pivots, which are key price levels that act as turning points for market trends. The CPR indicator takes into account the previous trading day's range (high, low, and close) and calculates three crucial levels: the central pivot point, the Top CPR or pivot (TC), and the Bottom pivot ( BC).

Daily CPR Indicator:

The daily CPR indicator is calculated based on the previous day's trading range. The central pivot point represents the average of the high, low, and close prices. These three levels ( Blue color in the chart ) provide traders with a reference for potential support and resistance areas throughout the trading day.

Weekly CPR Indicator:

Similar to the daily CPR, the weekly CPR indicator considers the trading range of the previous week. It provides a broader perspective by encompassing a more extended period. Traders often use the weekly CPR levels to identify key price areas that may influence market movements during the upcoming week. The calculations for the weekly CPR are the same as those for the daily CPR, but applied to the previous week's high, low, and close.

Application in Informed Trading:

The CPR indicator serves multiple purposes in the trading world. It assists in setting profit targets and stop-loss levels, identifies potential entry and exit points, and helps traders gauge the strength of ongoing trends. When Daily CPR is above than Weekly CPR then Trend is Bullish, If Price action is Bullish then Take Long trade.

Moreover, the CPR indicator can be combined with other technical indicators like 20 EMA to increase its effectiveness. I look for confluence between the CPR levels and Moving Averages, Price Action and trend lines, to strengthen trading decisions.

Conclusion:

The Daily and Weekly CPR indicator is a powerful tool that enables traders to identify potential support and resistance levels in the market. When Daily CPR is below than Weekly CPR and Prices trade below then Market is in Bearish mode. 

However, it is crucial to remember that no indicator guarantees success, and traders should always exercise due diligence and consider multiple factors before making any trading decisions.