Central Pivot Range (CPR) Indicator for ThinkorSwim

[WannabeTrader]

Hihi, i am using CPR tos script but how can i used it for scans?

Condition: 5min closed is above CPR range?

The current code if I put 5mins vs the CPR, it has some error like secondary period not allowed: 5min.

can someone enlighten me? Sorry I am a newbie and not so familiar with TOS yet.

 

[MerryDay]

Hihi, i am using CPR tos script but how can i used it for scans?

Condition: 5min closed is above CPR range?

The current code if I put 5mins vs the CPR, it has some error like secondary period not allowed: 5min.

can someone enlighten me? Sorry I am a newbie and not so familiar with TOS yet.

There is no work-around to the limitation of no secondary aggregations can be used in the TOS Scan Hacker.

You can read about it here:
https://tlc.tdameritrade.com.sg/center/howToTos/thinkManual/Scan/Stock-Hacker/studyfilters

 

[tommy1327]

May I know whether have code for watchlist ,the price touch the CPR line indicate 1, else 0. Many thanks

 

[MerryDay]

May I know whether have code for watchlist ,the price touch the CPR line indicate 1, else 0. Many thanks

Secondary aggregations cannot be used in watchlists. See the post above yours for more information.

 

[Slade3789]

Hey @BenTen is there a way to use this for futures. When I use on the 5 day 5 minute chart the CPR ranges are not accurate when comparing them to the trading view CPR values.

 

[bigboss]

Hey @BenTen is there a way to use this for futures. When I use on the 5 day 5 minute chart the CPR ranges are not accurate when comparing them to the trading view CPR values.

Hi Slade,

The difference is based on one platform using the "settlement" price as the close price, and the other using "last" price.

For example, you'll see here https://www.cmegroup.com/markets/equities/nasdaq/e-mini-nasdaq-100.settlements.html# that today's (1/20/2022) high, low, settlement, and close are
high = 15,340.25
low = 14,646.75
last = 14,725.75
settlement = 14,841.00

TradingView calculates the central pivot as (high + low + settlement price) / 3.
(15,340.25 + 14,646.75 + 14,841.00) / 3 = $14,942
ThinkOrSwim calculates the central pivot as (high + low + close price) / 3
(15,340.25 + 14,646.75 + 14,725.75) / 3 = $14,904

There is a way to get thinkorswim to calculate the pivot the same way as trading view. You'll want to create a new input to let the user enter settlement price, then change the code to use the input value as part of the calculation.

I've implemented a basic version below.

# CPR with Settlement
# by bigboss
#
# Some platforms, like Trading View, calculate CPR and pivots for futures using "settlement" price.
# Thinkorswim uses the "last" price.
# Override the price used for close with the settlement price input. Values can be found on the
# CME group website.

input settlement_price = 0.00;
input period = AggregationPeriod.DAY;

def h = high(period=period)[1];
def l = low(period=period)[1];
def c = if settlement_price > 0 then settlement_price else close(period=period)[1];

plot cp = (h + l + c)/3;

def _bc = (h + l)/2;
def _tc = (cp - _bc) + cp;

plot tc = max(_bc,_tc);
plot bc = min(_bc,_tc);


cp.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
tc.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);
bc.SetPaintingStrategy(PaintingStrategy.HORIZONTAL);

cp.SetDefaultColor(Color.MAGENTA);
tc.SetDefaultColor(Color.VIOLET);
bc.SetDefaultColor(Color.VIOLET);

 

[Grindin']

You happen to have this for TOS?

 

[MerryDay]

You happen to have this for TOS?

Here is the ToS version: https://usethinkscript.com/threads/central-pivot-range-cpr-indicator-for-thinkorswim.1305/

 

[MasterJEK]

Hi, thank you all for building this script. It works perfectly for me. I made a scanner for it; below is the link if anyone is interested.

I added a variable named "narrow" to define how narrow you want the CPR to be, with 1 being the thinnest possible. Currently set to 3.

Also, make sure to run the scanner at the end of the day in order to get the final close value.

CPR Scanner link: http://tos.mx/vietPEB

CPR indicator link: http://tos.mx/5sAqhmO