The Weekly Camarilla indicator is similar to traditional pivot levels. A Weekly Camarilla pivot has support and resistance levels above and below the prior week’s close. Check out our Indicator Spotlight post on the Camarailla Pivots (with video) for an in depth discussion on how to apply them in a trading setup.
Indicator Description
The main Weekly Camarilla Pivot is last week’s close and the input for the camarilla support / resistance formulas is based on the previous session’s high, low, and close. The weekly Camarilla indicator levels are calculated as follows:
- Range = High – Low, for the time frame under consideration.
- R1, R2, R3, R4, R5 – Resistance levels
- S1, S2, S3, S4, S5 – Support levels
- R5 = (High / Low) * Close
- R4 = Close + Range * (1.1)/2
- R3 = Close + Range * (1.1)/4
- R2 = Close + Range * (1.1)/6
- R1 = Close + Range * (1.1)/12
- S1 = Close – Range * (1.1)/12
- S2 = Close – Range * (1.1)/6
- S3 = Close – Range * (1.1)/4
- S4 = Close – Range * (1.1)/2
- S5 = (Close – (R5 – Close))
The resulting levels above and below the weekly Camarilla pivots establish areas of support and resistance.
To conclude, the weekly Camarilla indicator levels are simple and versatile support / resistance lines that can be used in both sideways and trending markets. Specifically, weekly Camarilla pivots can be used to indicate both reversal and breakout setups. Generally, the S3 and R3 levels can be used to initiate reversal trades, whereas the S4 and R4 levels signal breakout scenarios.
The idea is to wait for the prices to interact with the weekly Camarilla indicator levels, prior to considering setups. Finally, weekly Camarilla pivots may also be combined with other tools for technical analysis, i.e. trend filters and/or momentum oscillators.
Other Library indicators
Other Camarilla Pivots available from our Library includes the Camarilla Daily Pivots, Camarilla Monthly Pivots and Camarilla N-Monthly Pivots. Additional Pivot indicators available from the Session Tools category include the Daily Pivots, Weekly Pivots, Monthly Pivots and the N-Monthly Pivots indicators. Finally, the library contains Hourly Pivots, Rolling Pivots Daily, Rolling Pivots Weekly and Rolling Pivots Monthly. Our blogs have further information on trading with Pivot Points and the use of rolling pivots for trend detection.
Furthermore, you may consider average daily range levels for support / resistance. Our Indicator Spotlight discussed the Daily Range Projections and the Weekly Range Projections / Monthly Range Projections are also available from our Volatility Indicators category.
The Weekly Camarilla indicator is available for NinjaTrader 8 and is compatible with our LizardRenko bars.
