(Click image to enlarge)The indicator calculates Camarilla Equation support (L) and resistance (H) levels and plots them as horizontal lines. It also calculates several Fibonacci projection levels based on last session range and current pivot; these levels are labeled as S1, S2, S3, etc. for Fibo support levels and R1, R2, R3, etc. for Fibo resistance levels. In addition you can plot Standard Pivot Points and MidPivots values too.
Main Settable Options
Camarilla Pivot Points has a lot of configurable options, including colors and widths for every line as well as font size for labels. It also allows to choose which levels (Camarilla Pivots, Standard Pivots, Mid Pivots, Fib Levels) do you want to show and set alerts.
Technical Verdict
Camarilla Pivot Points is a very complete indicator that will be very helpful for all those traders who loves to trade using any Pivot Points modification. Also it has a lot of settings so you can create very flexible templates.The indicator has only two drawbacks: first, it only works on intraday charts and calculations are based on daily values only; strictly speaking this is not a drawback as original Pivot Points formula is based on daily values but it would great if we could set input values to any timeframe. Secondly, the indicator only shows current session values so it’s not possible to backtest strategies based on these levels.
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