Backtesting and trading camarilla pivots

[bandlab2]

hi radha,

Are you trading this with real money?

 

[lazytrader]

Point to note:
Those who use pivots to trade should keep this in mind that whatever the pivot - cam, floor, woddies, DeMarks or anything else, although called pivot points these are not really points but more like a small range.

Logic behind it is simple - at a pivot bulls and bears place orders on either side. Sometimes on nifty its a 5-8pts range around the actual point. Why because when a scrip reaches a pivot the bears will sell and this causes the scrip to fall but it manages above the pivot the bulls will buy. Some big guys will try to get in a little early the weaker guys will place orders a few pts away from the actual pivot which makes it a range.

Now if the scrip moves past a pivot the bears will sell aggressively and if the bulls absorb this supply then the scrip can power ahead. If not it will fall back below the pivot and when it does the stops placed by bulls will get triggered which will cause the scrip to fall very fast(remember the bulls buy above the pivot and place stop below it).
Now if the scrip slips but not to an extent to trigger the stops below the resistance then it will rise take support from the point and power ahead and vice versa.

Another important point to keep in mind is that the best supports and the ones that pass the test. When a resistance is broken it is sometimes tested. If the test holds then that point give you better risk reward ratio for entry. Sometimes after a breakout you may not get a test that's also important to keep in mind.

All the best.

 

[kdhrubo]

HI,

SENT THE FILE. i AM NOT CREATOR OF THE UTILITY. PLEASE SHARE YOUR EXPERIENCES HERE AT THIS THREAD.

MAY GOD BLESS YOU,

REGARDS,

CNB

CNB Sir - I got your files. The unfortunate part is I am poor guy and donot have Microsoft XLS, I use Open Office. I click on the button after enabling macro and it does not work. I will try on a friend's laptop and see.

Radha Maam - Whats yr opinion on entering trade following NIFTY CASH?

 

[cnbondre]

Point to note:
Those who use pivots to trade should keep this in mind that whatever the pivot - cam, floor, woddies, DeMarks or anything else, although called pivot points these are not really points but more like a small range.

Logic behind it is simple - at a pivot bulls and bears place orders on either side. Sometimes on nifty its a 5-8pts range around the actual point. Why because when a scrip reaches a pivot the bears will sell and this causes the scrip to fall but it manages above the pivot the bulls will buy. Some big guys will try to get in a little early the weaker guys will place orders a few pts away from the actual pivot which makes it a range.

Now if the scrip moves past a pivot the bears will sell aggressively and if the bulls absorb this supply then the scrip can power ahead. If not it will fall back below the pivot and when it does the stops placed by bulls will get triggered which will cause the scrip to fall very fast(remember the bulls buy above the pivot and place stop below it).
Now if the scrip slips but not to an extent to trigger the stops below the resistance then it will rise take support from the point and power ahead and vice versa.

Another important point to keep in mind is that the best supports and the ones that pass the test. When a resistance is broken it is sometimes tested. If the test holds then that point give you better risk reward ratio for entry. Sometimes after a breakout you may not get a test that's also important to keep in mind.

All the best.

Hi,


I used to trade pivots at the initial stages and was happy with whatever profits I use to earn. But many a time found my entry and exit is too late or too early. Then decided to study and found the reasons explained as above by Lazytrader!

What Lazytrader means is that pivot trading will keep you in the market but it is not the ultimate method if risk and reward-ratio is considered. One has to look beyond it for betterment.

There are so many factors for prices to go up and down, only experience will help to understand the market activity. Pl. go through the thread started by lazytrader, to study further click on the sig. of lazytrader Hidden gems of traderji and discover the wonderfull collection of lazytrader.

May God bless you all,

CNB.

 

[Mangafreakz]

........Deleted......

 

[vijayanscbe]

hi
i hav written simple program for amibroker based on the formula given in this thread
--------------------------------------------------------------------------
_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) Vol " +WriteVal( V, 1.0 ) +" {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 )) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
if( ParamToggle("Tooltip shows", "All Values|Only Prices" ) )
{
ToolTip=StrFormat("Open: %g\nHigh: %g\nLow: %g\nClose: %g (%.1f%%)\nVolume: "+NumToStr( V, 1 ), O, H, L, C, SelectedValue( ROC( C, 1 )));
}
_SECTION_END();

Plot(EMA(C,200),"",colorBrown);
Plot(EMA(C,13),"",colorRed);

High1 = TimeFrameGetPrice("H", inDaily, -1); // yesterdays high
Low1 = TimeFrameGetPrice("L", inDaily, -1); // low
Close1 = TimeFrameGetPrice("C",inDaily,-1); // close

s4 = ((High1-Low1)*(1.1/2))+Close1;
s3 = ((High1-Low1)*(1.1/4))+Close1;
s2 = ((High1-Low1)*(1.1/6))+Close1;
s1 = ((High1-Low1)*(1.1/12))+Close1;

ss1 = Close1-((High1-Low1)*(1.1/12));
ss2 = Close1-((High1-Low1)*(1.1/6));
ss3 = Close1-((High1-Low1)*(1.1/4));
ss4 = Close1-((High1-Low1)*(1.1/2));


Plot(s4, "",colorGreen,styleLine);
Plot(s3, "",colorRed,styleLine);
Plot(s2, "",colorBlack,styleLine);
Plot(s1, "",colorBlack,styleLine);
Plot(ss1, "",colorBlack,styleLine);
Plot(ss2, "",colorBlack,styleLine);
Plot(ss3, "",colorGreen,styleLine);
Plot(ss4, "",colorRed,styleLine);

----------------------------------------------------------------------
my small contribution

 

[kdhrubo]

Camarilla Levels for Different FUTs is given in the attached gif
Today I will watch both NIFTY and MINI NIFTY hopefully.

 

[kdhrubo]

Camarilla NIFTY FUT Levels - 26 Aug 2009 based on NIFTY FUT

 

[kdhrubo]

Camarilla Levels 26- Aug - 2009 based on Nifty cash is below

 

[kdhrubo]

Results so far today - 26 - Aug - 2009

NIFTY SHORT
SELL 4684 BUY 4660
GAIN = 24 points

MININIFTY
SELL 4688 BUY 4660
GAIN = 28 points

Observation
It seems FUT levels needs to be consider while shorting from H3 levels. Need to observe more.