Available translations

Pivot Points Camarilla

foundations.png
Summary: The Camarilla Pivots indicator sums up the previous trading day's high, low and closing price and calculates the baseline pivot point. Resistance and support levels are then calculated using the baseline pivot and Fibonacci multipliers.
Camarilla Pivot Points on the Charts
According to investopedia: pivot indicators are used to determine the overall trend of the market over different time frames. The pivot point itself is simply the average of the intraday high and low, and the closing price from the previous trading day. On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment.
For the Camarilla Pivots, unique multipliers are used to calculate the support and resistance levels. The support (S) and resistance (R) levels are calculated as follows:
  • S(n): Closing - ((High - Low) * Multiplier(n))
  • R(n): Closing + ((High - Low) * Multiplier(n))
  • Multiplier(n): Multiplier used for each support or resistance level from 1 to 4. 1=1.0833, 2=1.1666, 3=1.2500, 4=1.500
While the indicator defaults to an open time of Midnight at UTC+0, the timezone offset, and opening hour and minute can be adjusted to suit your preferred market's daily open time by locating and opening the Javascript Code under Data Building Procedure -> Procedure Loop under ’Pivot Points Fib’ Procedure Loop.
Products & Properties
The following properties are available to access:
Product Name Product Variable Properties
Pivot-Points-Camarilla PivotCamarilla pivot, r1 to r4, s1 to s4
Examples:
A basic strategy could use price action to enter a trade if a candle rises above the pivot point:
 chart.at01hs.candle.close > chart.at01hs.PivotCamarilla.pivot
The indicator could then be used as a take profit value when the price action approaches the first resistance level:
 chart.at01hs.PivotCamarilla.r1
Maintainer:
Previous
Pivot Points Woodie
Next
Pivot Points Denmark