Camarilla Pivots are some of my favourite indicators. If you are not familiar, go to camarillaequation.com to understand the basics.
I used the Daily Cam levels as an indicator, but I designed my own strategy (EA) with somewhat different logic to above reference. The EA turns-out to work well on GBP/USD, M15 timeframe (M5 and M30 is also profitable, but to a lesser extent).
PS. I attach the following files:
Cams_Daily_v1.mq4 - is the EA file
Camarilla_Daily.mq4 - is the underlying indicator that the EA is referencing.
I have gone back to the "text-book" Camarilla setup (reference above) and I have created two new EA's:
* Cam_Pivot_Break - break above H4 (or below L4) levels;
* Cam_Pivot_Bounce - bounce (to the centre) from H3 and L3 levels.
* For those visually inclined see attached pictures with visible trades, while I was running the back-tests.
Here are the two Indicators:
* Cam_Pivots_Daily - classical Camarilla levels (again, as per reference above);
* Cam_Pivots_Mid - includes mid pivots (H1, H2, L1 & L2), as well breakout targets H5, H6 and L5, L6.
And two Experts:
Looks like the strategy is working well!
5-days, 31 trades, 10% profit. This is very early days, but it certainly has potential.
10% is a very good number.
Hi Tokarus. Please advise of timeframe for Cams_Bounce II and Cams_Break II. Thanks
I am willing to give a forward-testing of your below 2 EAs for continuous 2 months and make a summary of results to you.
Please advise me of the timeframe for "Cams_Bounce II", and "Cams_Break II". I guess they are used on 4h timeframe, because they trade "Breakout", right?
How about the settings? Any change or just leave as default settings?
+ Please also advise which indicator is used with which EA in yr below 2 EAs and 2 Indicators.
+ Which currency pairs are they best used on?
+ Can I use both EAs below on the same currency pair on same platform, or each EA should be used separately to avoid conflict?
+ How much is minimum amount to be used for both EAs? Suppose I will test both EAs below with USD3000, then what is the ideal lot size of each EA?
Thanks and regards,
Original from Tokarus:
I am testing it on EUR/JPY & USDJPY. I find that JPY crosses work better with cams. I just added the AUD/JPY this morning and we will see how it performs. FYI, I ran parallel test on EURUSD and GBPUSD, the results were negative.
Timeframe: suggest M30 or M15. It will probably not work on H4.
The settings depend on the broker's time zone. I designed/tested it on
a broker that operates his platform in GMT. E.g. IBFX uses GMT and PivotStart=22:00 and Pivot End=22:00. The pivots should be aligned to 17h00 NYC time (i.e. generally accepted end of global/24h trading day).
You can reduce lot size if you have a smaller account I use a general rule of 1std lot for $10,000 account.
This EA is looking for favourable entries during the day and closes all positions at 22:00 (you can change this parameter).
Back-test it in visual mode with both indicators to see how it works (and hide the chart grid to see the cams better).
Other settings leave as is.
Yes, use both EA's on the same currency, but on diff chart window. That is how I test it. There is no conflict, EA's coexist well.
Thanks for your assistance. In two months time we wil be able to compare our notes.
Dear Tokarus. I am testing yr Cams_Daily_v1 on m15 of GBPUSD today
Thanks for yr prompt reply. I noted the currency pairs the breakout EAs will work on.
In the meantime, I am testing yr first EA "Cams_Daily_v1 on m15 of GBPUSD today on Ikon Royal GM's mt4 platform and FXDD. it works well, but it automatically placed 3 Buy orders (each Buy has 4 standard lot size, totally 12 lots size) on 50.000 usd demo account.
Please explain why inputs only has 8 lot size, but this EA placed totally 12 lots?
Also, I already saved the indicator "Camarilla_Daily" into Experts\Indicators folder correctly, but I saw the EXPERTS at bottom of the mt4 platform (EXPERTS near Journal) that it says "Cannot open file C:\Program files\Ikon Royal Trader\Experts\Indicators\Camarilla_Daily.ex4" on the GBPUSD, m15 ?
I did find this Indicator "Camarilla_Daily" in the Customer Indicators Folder.
You posted Indicator "Camarilla_Daily", but mt4 platform said it missed another Indicator "Camarilla_Daily.ex4". Did you post the wrong Indicator in your first post of this thread? If yes, please kindly post the correct Indicator to be used with "Cams_Daily_v1". Thanks.
What is the problem here? But why your EA still placed trades even it has this problem?
Anyhow, this EA made 70 pips profit per 1 lot size, totally: 70 pips x 12 lots = 840 pips for 12 lots. Really good !
By the way, do I need to adjust the GMT time in the Inputs of your EA "Cams_Daily_v1"?
I will try to forward-test this EA on other volatile pairs such as: GBPJPY, EURJPY, and EURUSD to see which pair this EA works best on, and report to you soon.
Waiting for your further explanations to my above questions about the EA "Cams_Daily_v1" soon.
Camarilla_Daily.mq4 should create Camarilla_Daily.ex4 after MT4 starts.
Check if you have this indcaitor: Camarilla_Daily.ex4
If no, maybe there is a compilation problem.
Dear Linuxser. I still can not find "Camarilla_Daily.ex4. Please advise why?
2008.05.13 00:44:31 Cannot open file 'C:\Program Files\Interbank FX Trader 4\experts\indicators\Camarilla_Daily.ex4' on the GBPUSD,M15
I just un-install and then, re-install the EA "Cams_Daily_v1", and its' indicator "Camarilla_Daily.mq4", but I stilll found the above mistake.
Please advise me what to do now?
Place Camarilla_Daily.mq4 to \experts\indicators\
Open MetaEditor and compile this indicator.
And you should see it here:
It means that ex4 was generated.