Dynamic 5% Below SuperTrend Resistance

The Central Pivot Range (CPR) is a popular price action-based indicator used by traders to identify key support and resistance levels for a given trading session. It consists of three lines:

Central Pivot (CP): Calculated as the average of the high, low, and close of the previous period.

Top Central Pivot (TC): Calculated as (CP + High of previous period) / 2.

Bottom Central Pivot (BC): Calculated as (CP + Low of previous period) / 2.

How traders use CPR:

If the price is above the CPR, it is considered bullish; if below, bearish.

The width of the CPR can indicate market volatility: a narrow CPR suggests a trending move, while a wide CPR suggests a range-bound market.

CPR levels act as dynamic support and resistance zones for intraday and swing trading.

The SuperTrend is a trend-following indicator based on the Average True Range (ATR). It is plotted as a single line above or below the price on the main chart:

Calculation: The SuperTrend value is derived by adding or subtracting a multiple of the ATR from the closing price.

Trend Indication:

When the price is above the SuperTrend line, the indicator turns green, signaling an uptrend.

When the price is below the line, it turns red, signaling a downtrend.

Signals: A change in the SuperTrend’s position (from above to below the price or vice versa) is considered a potential buy or sell signal.

Support/Resistance: The SuperTrend line acts as a dynamic support or resistance level.

Customization: The indicator’s sensitivity can be adjusted using the ATR period (atrLength) and the multiplier.

Best Use: SuperTrend works best in trending markets and is often combined with other indicators for confirmation.

The SuperTrend indicator is valued for its simplicity, adaptability, and clear visual signals—but, like all indicators, it can generate false signals in sideways or choppy markets and is best used in conjunction with other tools