Description: A potential market top sell off is indicated by a Down CPR, a potential market bottom is indicated by an UP CPR.
If Current High > Previous High and Current Low < Previous Low and Current Close > Previous High.
Then an Up Trend CPR has occured |
|
If Current High > Previous High and
Current Low < Previous Low and
Current Close < Previous Low.
Then a Down Trend CPR has occured
Parameters:
BarsBack Bar to test for the Closing Point Reversal
Default is 1, leave at this value to test
current bar, increase to test previous bar(s)
Arguments:
None
Output Indicators:
UpCPR
DnCPR
Output Indicators return 1 if formation is detected, otherwise
it returns 0
Example:
Study Name Expanded in a 3 minute timeframe:
I3_CPR(1)_I3
This study calculates a CPR for the current bar on the 3 minute time frame.
The output indicators names are appended to the studyname,
that is if the studyname is sn1 then
the outputindicator is
sn1::UpCPR
sn1::DnCPR
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