Camarilla Fibonachi Breakout Indicator with Alerts

The Camarilla Fibonachi Breakout Indicator with Alerts tool is a comprehensive intraday trading system that combines Camarilla levels, Fibonacci extensions, and trend-following filters to identify high-probability breakout opportunities.

Usage

This indicator is designed specifically for intraday trading. It generates automated Buy and Sell signals based on price action relative to specific Camarilla levels and volume confirmation.

Long Signals: A Buy signal is triggered when:

• The closing price is above the H4 level.
• If "Inside Camarilla" is enabled, the current H4 must be greater than yesterday's H4.
• Price is trading above the VWAP.
• Current volume is higher than the 20-period SMA of volume.

Short Signals: A Sell signal is triggered when:

• The closing price is below the L4 level.
• If "Inside Camarilla" is enabled, the current L4 must be lower than yesterday's L4.
• Price is trading below the VWAP.
• Current volume is higher than the 20-period SMA of volume.

Signals are restricted to appearing only once per day to prevent overtrading. The script also plots visual targets ranging from Target 1 to Target 4, and "Bonus" levels for extended trends.

Details

The script integrates several technical components to provide a complete trading environment:

• Camarilla Levels: Uses H3/L3 as stop-loss levels and H4/L4 as breakout triggers. Higher extensions (H5-H12) serve as take-profit targets.
• Dynamic Filters: VWAP and a 14-period VWMA are used to ensure trades are taken in the direction of the intraday trend.
• Volatility Tracking: An ATR Trailing Stoploss (Period 5, Multiplier 2.5) is plotted to help manage risk.
• Initial Balance: The high and low of the first 15 minutes (or user-defined session) are plotted as dotted purple lines to highlight the daily range establishment.

Settings

• Show VWAP: Toggles the visibility of the Volume Weighted Average Price.
• Show VWMA: Toggles the visibility of the 14-period Volume Weighted Moving Average.
• Indicator Line Plotting: Choose between "Default" (points/circles) or "Continuous Lines" for level visualization.
• Show ATR Trailing Stoploss: Enables the display of the volatility-based stop line.
• Initial Balance Period: Defines the session time used to calculate the opening range high/low.
• Show Standard Pivots: Toggles the display of Floor Pivots (TC, BC, Pivot, R1-R4, S1-S4).
• Show Camarilla Pivots: Toggles the display of the breakout and target levels.

FAQ

How do I interpret the VWAP color? The VWAP line changes color dynamically based on price action: it turns Green if the Open price is greater than the Close, and Red if the Open price is less than the Close.

Can I use this for swing trading? This indicator is specifically optimized for intraday timeframes as it relies on daily pivot calculations and session-based ranges.

How can I access this indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.