What is Camarilla Lines?

Beginner Questions
1

Hi

I am going through some code for a medatrader 4 indicator(Pivot Point). I got it off the net since metaTrader 4 does not come with it default.

So I been fixing the colors up since my back ground is all white and all the labels are white. So anyways I noticed they some code that draws some Camarilla lines.

I don’t know what they are. They got 4 of them plus the 3 resistance lines, 3 support lines, pivot point line and then middle lines between each of the pivots.

They named them like H4,H3,L4,L3

So not sure what they do.

Here is the code not sure if it will help anyone.

//----- Camarilla Lines

   if (camarilla==true)
   {
      if(ObjectFind("H4 label") != 0)
      {
      ObjectCreate("H4 label", OBJ_TEXT, 0, Time[20], H4);
      ObjectSetText("H4 label", " H4", 14, "Arial", Black);
      }
      else
      {
      ObjectMove("H4 label", 0, Time[20], H4);
      }

      if(ObjectFind("H3 label") != 0)
      {
      ObjectCreate("H3 label", OBJ_TEXT, 0, Time[20], H3);
      ObjectSetText("H3 label", " H3", 14, "Arial", Black);
      }
      else
      {
      ObjectMove("H3 label", 0, Time[20], H3);
      }

      if(ObjectFind("L3 label") != 0)
      {
      ObjectCreate("L3 label", OBJ_TEXT, 0, Time[20], L3);
      ObjectSetText("L3 label", " L3", 14, "Arial", Black);
      }
      else
      {
      ObjectMove("L3 label", 0, Time[20], L3);
      }

      if(ObjectFind("L4 label") != 0)
      {
      ObjectCreate("L4 label", OBJ_TEXT, 0, Time[20], L4);
      ObjectSetText("L4 label", " L4", 14, "Arial", Black);
      }
      else
      {
      ObjectMove("L4 label", 0, Time[20], L4);
      }
2

I have cam lines on my chart and I try to watch for pairs that are crossing the H3 up, or L3 down, and use the H4 & L4 lines respectively for profit targets.

Here’s an excerpt from SureFireThing.com that explains better than I…

“‘Camarilla’ equation (original) quite simply expounds the theory that markets, like most time series, have a tendency to revert to the mean. In other words, when markets have a very wide spread between the high and low the day before, they tend to reverse and retreat back towards the previous day’s close. This suggests that today’s intraday support and resistance can be predicted using yesterday’s volatility.”

Hope that helps :slight_smile:

3

camarilla pivots, although dripping with mystery and intrigue, are simply an alternate form of “floor pivots” and provide 8 levels of support and resistance.

while appearing simple in use, more than a bit of experience and knowledge is needed to be good at it.

sweet pip is using them in a somewhat limited manner, more like a simple support and resistance situation, but there is a complete trading methodology set up around them.

like all things, some swear by them and some at them — simply depends on how you “see” the market.

i find them a tad complex and not as accurate as true intraday support and resistance figures, but all those pivots has never been my thing and waiting to see what breaks what is beyond my patience point !

but of course, shes turned two quarters into 40 million dollars at this point, so think im gonna argue ?

googled and found this that may help - - - Trading the Camarilla Equation - Learn the insider’s secrets of the worlds best indicator!

and if all your lines suddenly up and go away, this calculator should help - - - - - Pivot Point Calculator, Free Pivot Point Calculator

i have em on my quotetracker charts but have never used them.

mp

4

well if she can do that, I won’t argue either; why mess with a good thing…lol

Yes camarilla is of the pivot point family lineage, and yes I use’er in a limited manner…lol…but I lik’er :slight_smile: With what free info on the net there is to harvest, that’s all I’ve come up with so far. I mean I understand more about them than that but I use them in a simple way. Hey, just another horizontal line, and just another piece of my overall trading strategy.

:slight_smile:

5

I pondered for about 15 seconds what Camarilla lines were my self…

Then the candle turned green and it was time to trade long :smiley:

6

Gee, after pondering the meaning of your others posts, I must say this post was really deep…:D:D

7

strangely enough, there just may be something to them, as a really unscientific poll of mine finds many MORE women use them than men — at least on the retail side !

perhaps because of their simplicity which is basically 'GO/NO GO" — we men tend to overcomplicate while women tend to cut right thru to the important point.

i could go into 4 or 5 days on the word “overcomplicate”, its combinations and permutations and the psychology surrounding the male psyche that produces those results, which “might” be of some interest if a team were building a computer to trade forex, but perhaps i should simply drop the subject and let it die by the roadside, much like roadkill or flatcats !

anyway sweetpip, never defend what turns two american quarters into 40 million dollars.

unfortunately, while i have an empty trading desk here, youre located a mite far for what one could consider “normal” commutting, although it could be done by private jet and a limo each day !

BTW — a simple look-see on this site alone produces what can be termed “the holy grail” or at least the sequel — by “associating” or placing together a few methods and currying the best of each (curry DEFINITELY goes along with that Tazo Chai tea !) systems pop up that are astounding !

enjoy and trade well

mp