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Camarilla Pivot Points Strategy
This strategy is based on Camarilla pivot levels (R1–R4, S1–S4) calculated from daily high, low, and close values. It detects the market scenario at the session open based on where the opening price lies relative to pivot levels. Depending on the scenario (bullish, range-bound, bearish), the script looks for breakout or breakdown confirmations during the session to enter trades.
Entry Logic:
- Scenario 1: Day opens between R3 and R4 → looks for breakout above R4 or breakdown below R3
- Scenario 2: Day opens between S3 and R3 → trades in either direction based on S3/R3 breakout
- Scenario 3: Day opens between S4 and S3 → looks for breakout above S3 or breakdown below S4
Exit Logic (Target and Stop-Loss):
- Scenario 1: Fixed 1% profit target, stop-loss at R3 (for longs) or at R4 (for shorts)
- Scenarios 2 & 3: Target at R3 or S3, stop-loss at S4 or R4 respectively
- All trades are closed by 3:15 PM (last session candle), and only one trade is allowed per day.
Suitable for: Intraday traders using breakout strategies based on Camarilla pivots on Indian markets. (EDUCATIONAL PURPOSE ONLY)
Entry Logic:
- Scenario 1: Day opens between R3 and R4 → looks for breakout above R4 or breakdown below R3
- Scenario 2: Day opens between S3 and R3 → trades in either direction based on S3/R3 breakout
- Scenario 3: Day opens between S4 and S3 → looks for breakout above S3 or breakdown below S4
Exit Logic (Target and Stop-Loss):
- Scenario 1: Fixed 1% profit target, stop-loss at R3 (for longs) or at R4 (for shorts)
- Scenarios 2 & 3: Target at R3 or S3, stop-loss at S4 or R4 respectively
- All trades are closed by 3:15 PM (last session candle), and only one trade is allowed per day.
Suitable for: Intraday traders using breakout strategies based on Camarilla pivots on Indian markets. (EDUCATIONAL PURPOSE ONLY)
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.