Camarilla Pivots Weekly

Weekly Camarilla indicator levels

Camarilla Pivots Weekly are similar to traditional pivot levels in that a main pivot is established with support and resistance levels above and below. Other Camarilla Pivots available from our Library includes the Camarilla Daily Pivots, Camarilla Monthly Pivots and Camarilla N-Monthly Pivots.

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 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 DailyRolling 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 indicator is available for NinjaTrader 8 and is compatible with our LizardRenko bars.