Pivot Points Classic and Camarilla
- Indicators
- Version: 1.0
Pivot Points Classic and Camarilla draws Classic pivot levels (P, R1-R3, S1-S3) and Camarilla levels (H1-H4, L1-L4) directly on the chart. The levels are calculated from the High, Low and Close of the previous period of the timeframe you choose (D1 by default), and every period is drawn as a horizontal line over the period it applies to, so you can see how price reacted to the levels on previous days, weeks or months.
Features
- Classic pivots - the central pivot P with three resistance (R1-R3) and three support (S1-S3) levels
- Camarilla pivots - eight levels H1-H4 and L1-L4; H3/L3 and H4/L4 are drawn thicker, because these are the levels Camarilla traders watch most; in Classic the pivot P and the outer levels R3/S3 are thicker
- Classic, Camarilla or both on the same chart; Classic lines are solid and Camarilla lines use a dashed style by default (the line style can be changed in the inputs)
- Any source timeframe - daily pivots on intraday charts, weekly or monthly pivots on higher charts
- History of past periods - from 1 to 200 periods, so you can study how price behaved around the levels
- Levels are calculated from the previous CLOSED period and stay fixed for the whole period; they do not move while the period is running
- Sunday bar handling - brokers that have a short Sunday D1 bar can distort Monday's levels; with "Ignore Sunday bar" on, Monday is calculated from Friday
- Text labels for the current period, optionally with the price; colors and line styles are adjustable
- If the history of the selected timeframe is still loading, the levels appear automatically when it is ready
- Does not trade and does not use DLLs, files or web requests
Inputs
- Pivot type - Classic / Camarilla / Both
- Source timeframe - timeframe whose previous bar gives the High, Low and Close. It must not be smaller than the chart timeframe. Default: D1
- Periods to draw - number of periods drawn, the current one plus past ones (1-200). Default: 10
- Ignore Sunday bar - do not use a Sunday bar as the "previous day" (applies to the D1 source). Default: on
- Pivot (P) color, Resistance color, Support color - colors of the levels
- Classic line style, Camarilla line style - line styles
- Show text labels, Show price in labels - labels of the current period
Notes
- Periods follow the broker's SERVER time: a "day" starts at the server midnight. Different brokers have different server time, so daily levels can differ slightly between brokers.
- If the source timeframe is smaller than the chart timeframe, nothing is drawn (a warning is written to the Experts log).
- If the selected timeframe has no history for the symbol, the levels appear when the terminal has loaded it.
- The levels are drawn as chart objects; the indicator has no buffers for use in Expert Advisors.
- In MetaTrader 4 the terminal draws dashed and dotted styles only on thin (width 1) lines, so the thicker key levels of Camarilla look solid there; in MetaTrader 5 the dashed style is shown on all lines.
- This is an analysis tool, not a trading signal.
