CPR indicator in ChartIQ for HDFCBANK today is not shown as per CPR formula. According to the CPR formula, today it is supposed to be smaller than previous day. Not wider.
Am I missing something? How CPR is calculated in ChartIQ? Kindly advice.
pls, check if this helps.
I know the formula brother. But the CPR plotted for HDFCBank is not as per the formula. That’s why asking
26th Jul, High -1402, Low-1386.3, Close-1390.6. Values are taken from 15 mins charts as you have selected 15mins chart on your screenshot.
When you open an intraday chart, the charting engine will only have historical intraday data points. It won’t have daily data points. So, accordingly, to find the previous day’s OHLC, the intraday chart will look at all the candles on the previous day and then take these points.
Pivot = (High + Low + Close)/3 = (1402+1386.3+1390.6)/3 = 1392.97
Bottom CPR = (High + Low)/ 2 = (1402+1386.3)/2 = 1394.15
Top CPR = (Pivot – BC) + Pivot = (1392.97 - 1394.15) + 1392.97 = 1391.78
Values match on the chart.
