Camarilla Pivots

Identifies Potential Reversal Levels.

 

 

Installation: Open your MT4, scroll up to File>Open Data Folder>MQL4>Indicators and paste the EX4 file(s) there. Restart MT4.

 

How It Works

Camarilla pivots are similar to regular pivots. The purpose behind using this indicator is to enter at a reversal or a breakout. Depending on the trend, you can choose to do either. For example, if the trend is "Down", only look for short positions. Trading with these alone is not advisable because price is obviously very dynamic and can change but you can use this as an additional indicator to see when price may stall. Look below on the second yellow line. Price retraced for a small bit and then reversed. Although one may think that they should have gone long, actually it was wiser to go short. Why? Because the overall trend was DOWN. And when the trend is down, only trade in that direction. No matter what. We have been teaching traders for many years and we have always told our students this rule. If one had gone short at the breakout, this was a very profitable trade. Good luck.

 

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