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Camarilla Projection MT5

Discovered while day trading in 1989 by Nick Scott, a successful bond trader in the financial markets, the Camarilla equation uses a truism of nature to define market action - namely that most time series have a tendency to revert to the mean. In other words, when markets have a wide spread between the high and low the day before, they tend to reverse and retreat back towards the previous day's close. The Camarilla Equation uses some complicated mathematics to pluck eight levels out of thin air, using nothing more than yesterday's Open, High, Low and Close. These levels are, frankly, astounding in their accuracy as regards day trading, even to seasoned traders, who know all about support and resistance, pivot points and so on.


Inputs

  • Limit - limit of bars for calculation
  • Targets - Displays a list of targets
  • Support/Resistance - change line and text colors
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Version 1.2 - 2017.06.23
Modified rule for calculating levels.
Version 1.1 - 2017.06.14
Now shows only the current projection