I used to use the Standard Pivot Points calculations for a long time. But I was never satisfied with them because the pivot lines were too far apart to be useful to me.
Somehow I found a different set of Calculations for Pivot Points. They are called Camarilla Level Pivot Points.
You will find the definitions for these Pivot Points Lines at:
There is only 1 calculation that I think is wrong. That is the calculation of PP (Pivot Point). The calculation is the one used in calculating the Standard Pivot Point.
Instead I will use: PP = (R1 + S1) / 2 because it places the pivot in the center of the other pivot points.
Concerns: I’ve been working on this program for a few days not and I still have a couple of concerns.
The first is that the last Indicator_color does not show up in the Indicator’s property colors list.
The second is that the lines do not extend to the last couple of Price Bars.
Also I want to hear any comments you have on the code.
Camarilla Pivots - indicator MetaTrader 4 Author: forex2stay The ideal indicator for those who like to work "by levels". It clearly shows the reversal level, support/resistance…
DROP LEVEL LINES (WITH LEVEL VALUE AND AUTOMATIC… NEW REVISION 2010-12-17: ********************* DROP_LEVEL_LINE_Rev2.mq4: DROP_LEVEL_LINES.mq4 has been revised. The last revision Rev1 was displaying all prices with 4 digits.…
Camarilla - indicator MetaTrader 4 Author: ForexMasterMaker.com The ideal indicator for those who like to work "by levels". It clearly shows the reversal level, support/resistance…
pivots calculation based on pine script v4 -… For MQL5 version please click here. pine script v4 function I/O : pivothigh(source, leftbars, rightbars) → series[float] pivotlow(source, leftbars, rightbars)…
