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  #1 (permalink)  
Old 03-19-2006, 10:53 PM
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pivots, camarilla, high/low etc....

We all know that plotting too much information on the screen is not necessarily the best way to go. As a daytrader, I'm a bit lost in the jungle of pivots and similiar forms possible S/R. I'm talking about the different methods of calculating pivots, midpivots, camarilla pivots, fibonacci pivots, murray math pivots, yesterdays's high/low, todays open, projected high/low, pricechannel etc..

I know some of you use none of these. But for those who does, which methods are you using and how are they helping you in your trading?
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Old 03-20-2006, 01:57 AM
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I'm curious too.
Mostly about Fib pivots and camarilla pivots..
do people use Daily,weekly, monthly for pivot calculations?
Is FIB or camarilla better to use?

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Old 03-20-2006, 02:14 AM
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Quote:
Originally Posted by SPACECHIMP
I'm curious too.
Mostly about Fib pivots and camarilla pivots..
do people use Daily,weekly, monthly for pivot calculations?
Is FIB or camarilla better to use?

Hi i am not a guru here neither i will intend to be.. but lets first disect
camarilla as an indicator

basic formula for L3 or (buy)

close - (yesterday's High - yesterday's Low) * 0.27 ( meaning 0.23 ( fib level ) support of yesterday's movement )
( reverse for H3)

normal pivot
H+L+C/3 = almost 0.382 fib lvl of yesterday's movement.
( yesterday or last week or last month )

Demark has an interesting way of giving also 0.618 lvl with his projected high
projected low

formula
if yesterday's close > yesterday's open ( meaning bulls were in control ) then normally one will take a fib lvl of high to low using fibonacci indicator available
but his formula (demark's is )
(2 * H + L +C )/2 = we get a number
this number - High = today's expected low ( auto 0.618 fib lvl )
this number - Low = today's expected high (auto 1.252 - 0.786 projected).


I personally use pivots and demarks lvl on weekly basis i see it has more information then daily -- murrey maths i dont find yet necessary for my self

sorry for this long writing and if i did any mistake i am still a newbie .

super-newbie
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Old 03-20-2006, 03:47 AM
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Do u have MT4 indicator for demarks lvl ?
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Old 03-20-2006, 04:35 AM
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Smile

Quote:
Originally Posted by phildunn
Do u have MT4 indicator for demarks lvl ?

here it is.

for daily keep as it is

for weekly
change this line
ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);
to
ArrayCopyRates(rates_d1, Symbol(), PERIOD_W1);
in MetaEditor

there are somebooks uploaded for elliotwaves and very good book logical trader by mark fisher where he describes pivot ranges (very good read) at free e-books thread...

** note: It was all fun staying with you all -- we have a internal trading competition between two trading groups starting on from next month and as i play in defence position i have to prepare too -- since red head is gone on viccations **

have fun and enjoy all.
Attached Files
File Type: mq4 DeMark Projected High & Low Script.mq4 (2.8 KB, 741 views)
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Old 03-20-2006, 05:26 AM
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Quote:
Originally Posted by super-newbie
here it is.

for daily keep as it is

for weekly
change this line
ArrayCopyRates(rates_d1, Symbol(), PERIOD_D1);
to
ArrayCopyRates(rates_d1, Symbol(), PERIOD_W1);
in MetaEditor

there are somebooks uploaded for elliotwaves and very good book logical trader by mark fisher where he describes pivot ranges (very good read) at free e-books thread...

** note: It was all fun staying with you all -- we have a internal trading competition between two trading groups starting on from next month and as i play in defence position i have to prepare too -- since red head is gone on viccations **

have fun and enjoy all.
I can't open this indicator?
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  #7 (permalink)  
Old 03-20-2006, 05:30 AM
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Quote:
Originally Posted by phildunn
I can't open this indicator?

i just tried it works can you try again if not i hope somebody will help you
in this.


Got a Go
super-newbie.
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Old 03-20-2006, 11:18 AM
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Quote:
Originally Posted by phildunn
I can't open this indicator?
It is script.
It is not indicator.
Place it in /script folder.
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Old 03-20-2006, 12:21 PM
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Quote:
Originally Posted by newdigital
It is script.
It is not indicator.
Place it in /script folder.
Oh I see. Thanks.
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Old 09-03-2006, 07:20 PM
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camarillalines

I like camarilla...Try this...Do cam calculations from midnight EST to Midnight EST to trade the london hours...do not buy/sell at level 3's but wait for price to advance beyond level 3(for sell) but not penetrate level 4...place sell stop justbelow level 3 and SL justabove level 4...I would place a take profit order also.(how much?) That is based on personal preference and maybe more research.

While these levels are not the holy grail, they do seem to have some merit.
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