Camarilla

Camarilla is a powerful VertexFX indicator that provides the support, resistance and pivots values based upon daily price values. This indicator is very useful to determine daily limits of trading, and the levels at which the market enters into resistance or support zones.

Camarilla provides two support levels (S3 and S4) and two resistance levels (R3 and R4). To calculate these levels, we first calculate the previous day’s range, that is calculated by previous day’s High minus previous day’s Low. We calculate R4 value as previous close plus 0.55 times previous day’s range. R3 value is calculated as previous close plus 0.275 times previous day’s range. Similarly, S3 value is calculated as previous close minus 0.275 times previous day’s range. S4 is calculated as previous close minus 0.55 times previous day’s range. The daily prices tend to stay within the S3 and R3 band. So, reversal strategies can be employed between S3 and R3. Breakout strategies can be employed beyond S4 and R4.

BUY – This indicator does not provide Buy signals.
SELL – This indicator does not provide Sell signals.

Usage

• Download the attachment from vStore or directly from the vStore tab in your terminal by performing a right click on it and selecting Download & Install
• Copy it to your company VertexFX Local VTL Files folder i.e. C:Program FilesCompany Namevtl10Local VTL Files
• Restart your Client Terminal or Right Click on “Local VTL Scripts” Tree Node to find the script.