LonesomeTheBlue

Expanded Camarilla Levels

Hello Everyone,

The Expanded Camarilla Levels is introduced in the book "Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market" by Franklin Ochoa. I will not write a lot about the book, you should read it for yourself. There are many great ideas in the book, such using these levels, following trend, time price opportunity, Advanced Camarilla Concepts and much more.


The definition/formula of the levels defined in the book. (actualy L1, L2, H1 and H2 levels are not used in the strategy, so not shown on the chart)

RANGE = highhtf - lowhtf

H5 = (HIGH/ LOW) * CLOSE
H4 = CLOSE + RANGE * 1.1/2
H3 = CLOSE+ RANGE * 1.1/4
H2 = CLOSE+ RANGE * 1.1/6
H1 = CLOSE+ RANGE * 1.1/12
L1 = CLOSE- RANGE * 1.1/12
L2 = CLOSE- RANGE * 1.1/6
L3 = CLOSE- RANGE * 1.1/4
L4 = CLOSE- RANGE * 1.1/2
L5 = CLOSE- (H5 - CLOSE)


Levels:

Strategy: you need to take care of the candles, as you can see there is bearish candle on first part, and Bullish Candle on second part!

Another Strategy:

An Example:



ENJOY!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
If you find my works useful, please consider a donation
BTC: 19qDW9AShZhBZsGuXcgRzam5Fbpc3EU8EV
ETH: 0x39c8552371b9b7f4e324197af460ba8bc8e18ef9

Earn $30
https://www.tradingview.com/gopro/?share_your_love=LonesomeTheBlue

Comments

Looks like a simple yet powerful indicator. What timeframe is the best?
+36 Reply
look good. did you tested this trade? what's winning chance??:)
+11 Reply
LonesomeTheBlue Bearishness
@Bearishness, hey, no I didn't test it. possible to test if I have time this month.
+2 Reply
Bearishness LonesomeTheBlue
@LonesomeTheBlue, great! keep us updated:)
+3 Reply
Oh man, I just finished the book too. Happy you put this and the expanded pivot one together! Great work as always
+4 Reply
@kviateq, Enjoy ;)
+2 Reply
Hello LonesomeTheBlue, I also love to use Camarilla Levels indicators; Thanks again for posting and invite us to read the book "Secrets of a Pivot Boss!
Appreciated your great work so far; thanks a lot <3
+2 Reply
@ICEKI, you are welcome
+2 Reply
Devamını her zamanki gibi bekliyoruz. Teşekkürler eline sağlık.:)
+2 Reply
There is an error in pivot calculation
R5 is R6

R5 = R4 + 1.168 * (R4 – R3)
R6 = (High/Low) * Close
S5 = S4 – 1.168 * (S3 – S4)
S6 = Close – (R6 – Close)

Nice Work !!
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out