Camarilla indicator, also known as Camarilla pivot points, draws precise support, resistance, target and breakout levels for intra-day trading. Taking yesterday's price High, Low, Open, and Close points, Camarilla indicator calculates 11 levels. 5 "L" low levels, 5 "H" high levels, and a middle Pivot point.
In general, most often traded Camarilla levels are L3, L4 and H3, H4. In addition, Current Camarilla indicator also has built in regular Pivot points and Fibonacci levels. Both of which can be turn on or off in indicator settings menu. Time-frames used for trading with Camarilla equation are 15 min, 10 min, 5 min, and 1 min.
How to trade with Camarilla indicator
Look for markets approaching L3 or H3 level, these are the levels of entry: long at L3 Long or short at H3 Short. At L3 support or H3 resistance levels market is expected to either reverse or permanently correct. Therefore, indicators such as Forex Freedom Bar or simple moving averages could help to determine the trend direction. Even better, candlestick trading strategy could be implemented.
When trading Camarilla breakouts, the trend is expected to continue in the direction of the breakout and therefore could be entered in the direction of the breakout. Meanwhile, profit targets are set to either L5 or H5 Camarilla levels. Finally, combining drown Camarilla indicator, Pivot Point, and Fibonacci retracement levels increases the strength of the level should they align. That said, don’t hesitate to experiment.
How to Install Camarilla indicator
How to install your indicator on MT4 platform:
1. Click on Download button below;
2. Save the file to your computer;
3. Move the .ex4 file into the following folder: meta traderexpertsindicators;
4. Restart your Metatrader platform;
5. Click the “Indicators” button in Metatrader toolbar;
6. Select “Custom”;
7. Search and select “Camarilla”;
8. Adjust settings or press OK to add the indicator to your selected chart;
Note: Camarilla indicator is developed by MetaQuotes Software Corp. and was sent by an AtoZ Markets follower from Russia, Dmitry. AtoZ Markets does not carry any copyrights over this trading tool.
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