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2014.03.10 09:25
Indicators

Camarilla Level Pivots - indicator for MetaTrader 4

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Views:
36769
Rating:
votes: 23

Author:

Bill Halliday


I used to use the Standard Pivot Points calculations for a long time. But I was never satisfied with them because the pivot lines were too far apart to be useful to me.

Somehow I found a different set of Calculations for Pivot Points. They are called Camarilla Level Pivot Points.

You will find the definitions for these Pivot Points Lines at: http://www.mypivots.com/dictionary/definition/42/camarilla-pivot-points

There is only 1 calculation that I think is wrong. That is the calculation of PP (Pivot Point). The calculation is the one used in calculating the Standard Pivot Point.

Instead I will use: PP = (R1 + S1) / 2 because it places the pivot in the center of the other pivot points.

Concerns: I've been working on this program for a few days not and I still have a couple of concerns.

The first is that the last Indicator_color does not show up in the Indicator's property colors list.

The second is that the lines do not extend to the last couple of Price Bars.

Also I want to hear any comments you have on the code.

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