Pivot Call day trading webinar you can download here. This course includes 15 patterns, which are derived from CPR and pivot points. Pivot call webinar (15 day trading patterns) is based on the CPR (Central Pivot Range) and Pivot Points (Daily, Weekly and Monthly) and EMA 20.
Price Action and CPR:
Price Action is purely reading the charts, without adding any indicators to the chart. Observing and reading chart with volume and candlesticks. CPR is a dotted lines, they will won’t move like other indicators. We can see CPR and Pivot points before market opens. CPR is plotted on charts based on previous day movement, opening and closing of movement. CPR act as a biggest support or resistance to the market. If the market is trading above the CPR then, the market is likely to go up. if the market is trading below the CPR, then market is looking bearish.
Pivot points are also act as support and resistance. There are different types of pivots like daily pivots, monthly pivots and weekly pivots and yearly pivots. Daily pivots and weekly pivots are works effectively in intraday trading.
In these pivots, there are 4 pivots are present above the CPR and another four pivots are present below the CPR. Above four pivots are R1, R2, R3 and R4 respectively. Below 4 pivots are S1, S2, S3 and S4 respectively. These pivots and CPR is formed based on previous day. Formula for pivot points are given below:
PP (Pivot points/Central pivot) = (previous High + previous Low + previous Close) / 3
(R1) = (2 x PP) – Low
(S1) = (2 x PP) – High
(R2) = PP + (High – Low)
(S2) = PP – (High – Low)
(R3) = High + 2(PP – Low)
(S3) = Low – 2(High – PP)
[Same Formula is applicable for Daily, Weekly, Monthly.]
Formula for CPR:
Pivot= (High + Low+ Close)/3
BCPR = (High + Low)/2
TCPR = (Pivot – BCPR) + Pivot
Central Pivot Range(CPR):
CPR is mainly formed in 3 types.
1. Narrow CPR : Bullish market or Bearish market. (Trendy market)
2. Average CPR or Normal CPR : Market moves slightly. There is chance for little movement.
3. Wide CPR : Market is in consolidate stage. (Sideways market).
Previous demand zone (Buying zone)
Pivot points – daily/weekly/monthly
Previous Day High (PDH)
Previous Day Low (PDL)
Previous Day turning point
Swing high/Swing low
Previous supply zone (Selling zone).