CPR (Central Pivot Range) Indicator in MetaTrader 4 – Free – [Trading Search] – MT4/MT5 Resource

The CPR (Central Pivot Range) indicator is one of the most widely used tools in technical analysis . It is designed to identify key levels , reversal points , and potential market trend directions.

This MetaTrader 4 indicator is calculated based on the high, low and closing prices and consists of a central pivot point , two resistance levels (blue) , and two support levels (orange) .

CPR indicator specification sheet

The table below outlines the general characteristics of the CPR indicator.

Uptrend Conditions

The chart below shows the USD/CAD currency pair in the 5 minute timeframe .

In this chart, the price moves after the support zone , which returns to the pivot line and positioning above which can be seen as confirmation of the entered Buy position.

In this case, the price target is usually an upcoming resistance area, accessible via the CPR structure.

downtrend conditions

The chart below shows the NZD/JPY currency pair chart in the 30-minute timeframe .

After the pullback reaches resistance (blue line) and stabilizes below the center line (red line), this price behavior can be interpreted as confirmation of the continuation of the bearish trend . Under these conditions, the probability of occurrence is price moving toward the next support area increases.

Indicator Settings

The image below shows the configuration details of the CPR (Centered Pivot Range) indicator in MetaTrader 4:

• Timeframe : the time frame for indicator calculation
• Number of previous candles for calculation : The number of previous candles to calculate
• P_Color : Pivot line color
• P_Style : Pivot line style
• P_Width : Pivot line thickness
• P_RayRight : Extend the pivot line to the right
• R_Color : resistance line color
• R_Style : Resistor line style
• R_Width : resistance line thickness
• R_RayRight : Extend the resistance line to the right
• S_Color : supports line color
• S_Style : supports line style
• S_Width : Support line thickness
• S_RayRight : Extend the support line to the right

Conclusion

The CPR (Central Pivot Range) indicator is a technical analysis tool used to determine support and resistance levels and the potential direction of market trends. It works on financial markets such as stocks, forex , and cryptocurrencies and is popular among day traders .