The Expanded Camarilla Levels is introduced in the book "Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market" by Franklin Ochoa. I will not write a lot about the book, you should read it for yourself. There are many great ideas in the book, such using these levels, following trend, time price opportunity, Advanced Camarilla Concepts and much more.
The definition/formula of the levels defined in the book. (actualy L1, L2, H1 and H2 levels are not used in the strategy, so not shown on the chart)
RANGE = highhtf - lowhtf
H5 = (HIGH/ LOW) * CLOSE H4 = CLOSE + RANGE * 1.1/2 H3 = CLOSE+ RANGE * 1.1/4 H2 = CLOSE+ RANGE * 1.1/6 H1 = CLOSE+ RANGE * 1.1/12 L1 = CLOSE- RANGE * 1.1/12 L2 = CLOSE- RANGE * 1.1/6 L3 = CLOSE- RANGE * 1.1/4 L4 = CLOSE- RANGE * 1.1/2 L5 = CLOSE- (H5 - CLOSE)
Levels:
Strategy: you need to take care of the candles, as you can see there is bearish candle on first part, and Bullish Candle on second part!
Another Strategy:
An Example:
ENJOY!
Notes de version
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Improved Arrays used H1/L1 and H2/L2 levels added as an option round_to_mintick() function used transp removed
Loncesome The Blue, is there any way to have the levels to include only the current days extended trading? When the chart is set for extended trading the previous days levels are cast on to the current day's premarket . Is there a way to set up the levels so they only include the current trading day?
https://chart.https://www.tradingview.com/x/o25KK7Nb/
hundredtoamillion
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Oh man, I just finished the book too. Happy you put this and the expanded pivot one together! Great work as always
LonesomeTheBlue
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@kviateq, Enjoy ;)
jxmodi
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Thanks for such Great indicator.
i have made some changes.
H5 = (highhtf / lowhtf) * closehtf
H4 = closehtf + RANGE * 1.1/2
H3 = closehtf + RANGE * 1.1/4
H2 = closehtf + RANGE * 1.1/6
H1 = closehtf + RANGE * 1.1/12
L1 = closehtf - RANGE * 1.1/12
L2 = closehtf - RANGE * 1.1/6
L3 = closehtf - RANGE * 1.1/4
L4 = closehtf - RANGE * 1.1/2
L5 = closehtf - (H5 - closehtf)
plot(islast ? H5 : na, title = "H5", color = color.maroon, linewidth = 3, style = linestyle, transp = 0)
plot(islast ? H4 : na, title = "H4", color = color.red, linewidth = 2, style = linestyle, transp = 0)
plot(islast ? H3 : na, title = "H3", color = color.orange, linewidth = 1, style = linestyle, transp = 0)
plot(islast ? L3 : na, title = "L3", color = color.lime, linewidth = 1, style = linestyle, transp = 0)
plot(islast ? L4 : na, title = "L4", color = color.blue, linewidth = 2, style = linestyle, transp = 0)
plot(islast ? L5 : na, title = "L5", color = color.navy, linewidth = 3, style = linestyle, transp = 0)
// Label for S/R
chper = time - time[1]
chper := change(chper) > 0 ? chper[1] : chper
Round_it(valu)=>
a = 0
num = syminfo.mintick
s = valu
if na(s)
s := syminfo.mintick
if num < 1
for i = 1 to 20
num := num * 10
if num > 1
break
a := a +1
for x = 1 to a
s := s * 10
s := round(s)
for x = 1 to a
s := s / 10
s := s < syminfo.mintick ? syminfo.mintick : s
s