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Mt5 Camarilla Pivots

The Camarilla Pivots indicator is fully configurable and can be adjusted to work in different ways. If you are a manual trader and prefer a clean chart, you can configure the indicator so that it only draws camarilla pivot points for the current session. Otherwise if you are developing an expert advisor that uses pivot points, you can configure the indicator to show historical camarilla pivots as well.

Another unique feature of this indicator is that, when calculating daily camarilla pivots, it is possible to set a custom start time for the day. Instead of calculating pivots using the usual 00:00 to 23:59 time period , you can set a custom start time for the day. For example if you choose a start time of 17:00 the indicator will calculate the pivots by regarding the bar at 17:00 as the open time of the daily session and bar at 16:59 (the next day) as the closing bar of the day.

It is also possible to choose whether to display historical camarilla pivot point values in the data window.


Indicator input parameters:

  • ctimeframe - sets the time frame from which the camarilla pivot points will be calculated.
  • ShowValuesInDataWindow - either set to true or false, this parameter sets whether to show the camarilla pivot values in the data window.
  • UseCustomStartTime - (true/false) please note that this feature only works when SetTimeFrame is set to the daily time frame.
  • StartTime - input the custom start time in the format shown, i.e. hh:mm, of course this parameter has effect only if the UseCustomStartTime value is set to true.
  • ShowHistoricalIndicatorValuesOnChart - (YES/NO) this parameter is for choosing whether to draw historial pivots values on the chart. In order to display pivots for the current session only set this value to NO.
  • scolor - set color for all support levels.
  • rcolor - set color for all resistance levels.
NB. Note that when setting the StartTime value, it must correspond with the open time of any bar on the current chart. For example you cannot set a StartTime of 17:30 if the indicator is applied to the Hourly chart, as there is no bar that opens at that time on this chart.  
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The VIP Consolidation Price indicator displays the price consolidation areas (a large gathering of sellers and buyers). If these areas are broken through, with a high probability the price will continue to move in the selected direction. The wider the price consolidation area, the higher the probability that the price will not return to the opposite boundary of the price consolidation channel after a breakthrough of the boundaries. The narrower the area, the higher the probability that price wil
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Rodrigo da Silva Boa
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Rodrigo da Silva Boa 2015.12.13 10:11 
 

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Version 1.3 2020.07.17
Added new input parameter to LookBack which controls the number of bars the indicator will work on , this will make the indicator faster during initialization. Please note that setting this figure <=0 will cause indicator to default to 500 bars.
Version 1.1 2015.06.05
Bug fix.