Camarilla Pivot Levels for Rule-Based Long and Short Signals

Summary

This script calculates Camarilla support and resistance levels from high, low, and close data at a selectable resolution, defaulting to daily values. It derives the first four support and resistance levels by scaling the prior range around the close, with separate formulas for the fifth levels. Users choose which support level serves as the long threshold and which resistance level serves as the short threshold.

The strategy takes a long position when price closes above the selected resistance and a short position when it closes below the selected support. Between those thresholds, it carries forward the prior position; an optional reverse setting flips the direction of the signals. The script also colors chart bars by signal state. The page provides source code and explains the general use of pivot studies as potential turning areas, but it does not show performance statistics or specify a tested market or period. Treat the levels as rule inputs rather than proven reversals: no risk limits, transaction costs, or evidence of robustness are documented.

Key ideas

• Camarilla levels are calculated from a selected period's high, low, and close.
• The script lets users select a support level for long entries and a resistance level for short entries.
• A close beyond the selected threshold changes the position, while prices between thresholds preserve the prior signal.
• An optional reverse setting inverts the long and short directions.
• The published page offers no backtest metrics, market specification, or transaction cost analysis.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.