OPEN-SOURCE SCRIPT
EP CPR
Future CPR + 4 MA
1. CPR Trend Direction(Bias):
Bullish: If the current day's price is trading above the TC, it suggests a strong bullish trend where the CPR acts as a support zone.
Bearish: If the current day's price is trading below the BC, it suggests a strong bearish trend where the CPR acts as a resistance zone.
Range-Bound/Consolidation: If the price is trading within the CPR lines, it indicates a lack of clear directional bias and suggests a likely sideways or accumulation phase.
2. Moving average Trend Identification
Uptrend: If the price is above a moving average (and the MA line is sloping up), it confirms a bullish trend.
Downtrend: If the price is below a moving average (and the MA line is sloping down), it confirms a bearish trend.
Crossovers (Trading Signals)
A popular strategy involves using two moving averages—a short-term MA (e.g., 50-period) and a long-term MA (e.g., 200-period).
Golden Cross (Bullish Signal): Occurs when the shorter-term MA crosses above the longer-term MA.
Death Cross (Bearish Signal): Occurs when the shorter-term MA crosses below the longer-term MA.
1. CPR Trend Direction(Bias):
Bullish: If the current day's price is trading above the TC, it suggests a strong bullish trend where the CPR acts as a support zone.
Bearish: If the current day's price is trading below the BC, it suggests a strong bearish trend where the CPR acts as a resistance zone.
Range-Bound/Consolidation: If the price is trading within the CPR lines, it indicates a lack of clear directional bias and suggests a likely sideways or accumulation phase.
2. Moving average Trend Identification
Uptrend: If the price is above a moving average (and the MA line is sloping up), it confirms a bullish trend.
Downtrend: If the price is below a moving average (and the MA line is sloping down), it confirms a bearish trend.
Crossovers (Trading Signals)
A popular strategy involves using two moving averages—a short-term MA (e.g., 50-period) and a long-term MA (e.g., 200-period).
Golden Cross (Bullish Signal): Occurs when the shorter-term MA crosses above the longer-term MA.
Death Cross (Bearish Signal): Occurs when the shorter-term MA crosses below the longer-term MA.
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