What it does
Computes the Central Pivot Range and floor-pivot levels R1-R3 and S1-S3 from the previous month's high, low and close and projects them across the current month. Monthly CPR describes where last month's value was concentrated and provides position traders and investors with the broadest pivot framework. These levels often coincide with areas where institutions transact, making them durable support and resistance zones.
How to add it
Click Indicators (ƒx) in the header.
Search “Dext CPR with Pivot Level Monthly” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Price holding above the monthly CPR keeps the positional bias bullish for the month; a fall back inside it warns the monthly auction is rebalancing.
- A narrow monthly CPR after a tight month suggests a large directional monthly move is brewing; watch for the break early in the new month.
- Use monthly S1/R1 as major swing reaction zones — first tests frequently produce multi-day bounces or rejections.
- Stack timeframes: trades where daily and weekly setups fire in the direction of the monthly CPR bias have the strongest tailwind.
Inputs
This indicator has no configurable inputs — it works out of the box.
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Pivot | line | #FF9800 |
| BC | line | #AB47BC |
| TC | line | #7B1FA2 |
| R1 | line | #80CBC4 |
| R2 | line | #26A69A |
| R3 | line | #00796B |
| R4 | line | #004D40 |
| S1 | line | #FFAB91 |
| S2 | line | #FF7043 |
| S3 | line | #BF360C |
| S4 | line | #7F0000 |
| Prev Month High | line | #787B86 |
| Prev Month Low | line | #787B86 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- The legend eye toggles it off without losing your settings — handy for before/after comparisons.
- Its price-scale label can be switched off per-indicator at the bottom of the Style tab if the axis gets crowded.
Watch out for
- With only twelve updates a year the sample is small and each level's relevance decays quickly after major regime-changing events.
- Monthly levels are wide; using them without a lower-timeframe trigger produces poorly located entries and oversized stops.