Camarilla Breakout trades the popular Camarilla Level 4 breakout. The Camarilla Pivot levels was originated in 1989 by Nick Scott. The levels are used as primary support and resistance levels by Intraday traders. The levels are calculated with the following formula:
- R4 = C + RANGE * 1.1/2
- R3 = C + RANGE * 1.1/4
- R2 = C + RANGE * 1.1/6
- R1 = C + RANGE * 1.1/12
- PP = (HIGH + LOW + CLOSE) / 3
- S1 = C - RANGE * 1.1/12
- S2 = C - RANGE * 1.1/6
- S3 = C - RANGE * 1.1/4
- S4 = C - RANGE * 1.1/2
Other than for primary support and resistance, popular usage of the levels include risk management and Intraday trading.
When price approaches the S3 and R3 levels, it is usually possible that a reversal is imminent thus traders usually look to exit their trade positions at these levels.
Trading Cam Breakouts
If price breaks the fourth levels (R4 & S4), price may be heading in a new direction thus trades look to these levels for possible breakout signals. Thus you can take buy trade at an R4 breakout and sell trade at an S4 breakout.
- GMTshift - The time offset for Pivot Line calculation.
- Enable Notification - True/False signal alerts.
- Display_Pivot_Lines - Enable/Disable Pivot Line on the chart.
- Resistance Label Color - Color of resistance line.
- Support Label Color - Color Of Support Line.
- Support Label FontSize - Pivot Label Size.