Camarilla Pivots / Identifies sweet spot / Where big $$ enters
I listened in on a free invite to a trades room thursday where they used a s/r inflow indicator (their own) "Dynamic S/R Lines" a free ind. shows same thing.
but while searching for said indicator I came accross the Camarilla Pivots and GRT Pivots Multi the GRT has more options, I like that one better actually.
I read up on Camarilla extensively from google and back tested over week end and using today in sim...nice...the L3 or H3 levels are the sweet spots and all in between area is where the floor traders play cat & mouse w retail traders..its not recommended to trade in that zone and to wait til a close beneath L3 or above H3 and thats where hedge fund trders & inst. like to enter.
I think those L & H 3 levels are the high % trades..u may not trade has often (which is good) but u will trade better.
Anyone finding success w this indicator?
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This post has been selected as an answer to the original posters question
All sorts of pivots, whether floor pivots, Camarilla pivots, Fibonacci pivots, Jackson Zones work, because traders use them as meeting points. Depending on the instrument traded, traders may have a tradition to use Camarilla pivots or not to use them.
You did not mention for what instruments you want to use them.
I believe that floor pivots work much better for physical commodities, however Camarilla pivots may work for FOREX. Have you backtested the use of Camarilla pivots against ETH or RTH floor pivots?
Below chart for Floor Pivots, Camarilla Pivots and Noise Bands for CL 04-12
Last edited by Fat Tails; March 5th, 2012 at 03:44 PM.
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Oh yea..YM Less $ to risk, trying to get a handle on this game.
Im trading 1 trade a day & w the best probability. Seems like the L3 H3 levels w a bar closing outside works pretty good, especially when u draw back & see all the areas where price rockets beyond that area. and L4/H4.
Im looking at "floor pivots" rite now, gonna dwn load it and check it out. Sometimes I put on "Dynamic S/R lines" too.
Thanks for posting ur charts for me.
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