Camarilla DT Indicator of Support and Resistance Levels for Scalping and Daytrading
The Camarilla DT indicator plots the reversal level on the price chart of the currency pair, support levels and resistance and will be useful for traders who build their trading strategies on trading by levels.
Using the Camarilla DT indicator in trading
- As a rule, the price is between H3 and L3 levels. The H3 level is a guide for opening short trades, the L3 level is long trades.
- If the price is between levels 3 and 4, you should wait for its return to the range H3 - L3, rebound from one of these levels, and then open a trade in the direction of the trend.
- Level 4 is quite a strong resistance (support). Its penetration increases the probability of the continuation of the price movement in this direction. If level 4 is broken through, we open a trade in the same direction with a target at level 5.
- If necessary, you can disable the display of unnecessary levels in the indicator settings.
According to ForTrader.org experts, the Camarilla DT Support and Resistance Levels Indicator can be used for intraday trading (in the H3 - L3 price range), and for scalping (breakdown of level 4).
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