This work is an original interpretation of as well as the techniques taught by Boss.
As with everything context along with price action is crucial when trading potential reversal zones.
This indicator is used for intraday trading.
- Option to calculate Daily, Weekly, and Monthly pivots
- Lower order Camarilla levels
- Central Pivot Range
- Levels are plotted on intraday charts only. Choose less than 1 day resolution on your chart to see the levels.
- Levels are not calculated as designed if applied to non-standard types of charts (Heikin Ashi, Renko, etc.). Use standard candlestick charts to avoid any issues.
- Levels are updated once at the beginning of the trading day/week/month, depending on the Timeframe of your choice.
Bullish/Bearish Reversal Zones - zones where a reversal might occur.
Bull/Bear Last Stand - a breakout might happen, if breached.
Bullish/Bearish Target 1 and 2 - targets in case of breakout.
OPTIONAL LEVELS (enabled in Settings)
Lower order Camarillas - R1, R2, S1, S2 are optional and represent the additional micro-levels between reversal zones. Better used on higher timeframes or in choppy conditions, if used at all.
Central Pivot Range - value of adding Central Pivot Range into this indicator is to provide the option to calculate weekly and monthly Central Pivot.
TIMEFRAME FOR LEVELS (changed in Settings)
By default levels are calculated on prior day data (timeframe for levels: “D”), but can be changed to “W” (weekly levels) or “M” (monthly levels). It is suggested to monitor all 3 timeframes (D/W/M) for confluence and greater results. Higher timeframe produces stronger signals. Weekly and Monthly pivots might be used for swings.
- For weekend chartists: a new option to plot the next period levels (please choose "Next period levels" in Settings)
- Added D, W, M prefix to the label
- Higher timeframe pivots are now available for higher resolution charts. For example: weekly, monthly, 3M, 12M pivots are visible on daily chart.
- Center line for Posty Pivots has been added as an option and can be activated in Settings.
- Price decimals on labels are enabled by default now.
- Added High and Low of the period of reference (check ‘Posty Pivots H/L/C’ in Settings). ‘Center Line’ was appropriately renamed to ‘Close’.
- Introduced custom color management. See the 'Colors' group of parameters in Settings.
- Option to round the price in labels was deprecated and removed.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.