Camarilla Pivot Points Metatrader 4 Forex Indicator
The Camarilla Pivot Points MT4 forex indicator is a very complete and interesting pivot point forex indicator for Metatrader 4.
It displays the Pivot Point together with 5 support and resistance levels (S1, S2, S3, S4, S5, R1, R2, R3, R4, R5) and some levels for breakout trading.
On the chart, breakout levels for both long and short trades are being displayed with some text information for clarification.
Moreover, the Camarilla Pivot Points trading indicator displays the high, low, previous days range and current days range price in the upper left corner of the main chart.
The Camarilla Pivot Points indicator is suitable for scalping, day trading and swing trading purposes.
The EUR/USD H1 chart below displays the Camarilla Pivot Points forex indicator in action.
Basic Trading Signals
Signals from the Camarilla Pivot Points forex indicator are easy to interpret and goes as follows:
Buy Signal: Initiate a buy trade when price trades about the Camarilla Pivot Point (bullish). Alternatively, look for buy trade breakout signals (displayed on the chart).
Sell Signal: Initiate a sell trade when price trades below the Camarilla Pivot Point (bullish). Alternatively, look for sell trade breakout signals (displayed on the chart).
Trade Exit: Close the open trade when an opposite signal occurs, or use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Pivot, Fibs, Fib Levels) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Pivot Point
Copy and paste the camarilla-pivot-points.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)