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- Published:
- 2013.05.17 14:09
- Updated:
- 2016.11.22 07:32
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A modified Camarilla dt Historical indicator.
In fact, Camarilla Equation has originally 8 and in later versions - 10 levels for which calculation are used open, close, maximum and minimum of yesterday's session, as well as a set of recommendations how to trade using these levels. Levels are divided into two groups. The first group is built down from yesterday's close price, indicated by letter L (from "Low") and numerated from 1 to 5. Analogically, the second group is built up from yesterday's close price, indicated by letter H (you are right, from "High") and numerated from 1 to 5. Notice, that levels 1 and 2 have a comparatively small value and therefore excluded from consideration. But the levels L5 and H5, in contrast, must not be excluded from consideration.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 24.07.2008.
Fig.1 The Cam_H2_H5_Historical indicator
Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/1680
TrendStrengthv2
Conversion from MetaTrader 4 version.
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The indicator automatically draws Fibonacci lines by yesterday's or today's range