OPEN-SOURCE SCRIPT
Camarilla R5 S5 Weekly Reversal Strategy
🏷️ Title
Camarilla R5 S5 Weekly Reversal Strategy
📄 Short Description (Appears in Preview)
A mean reversion strategy using weekly Camarilla pivot extremes R5 and S5 with targets at R4 and S4. Designed to capture reversals from overextended price zones.
📘 Full Description (Copy-Paste Ready)
📌 Overview
This strategy is based on Camarilla Pivot Points, focusing on extreme reversal levels R5 and S5 derived from the previous week's price action.
It is designed to capture mean reversion moves when price becomes overextended and shows signs of rejection.
⚙️ How It Works
The script calculates weekly Camarilla levels using:
Previous Week High
Previous Week Low
Previous Week Close
From this, it derives key reversal zones:
R5 Extreme Resistance
R4 Target for Short Trades
S5 Extreme Support
S4 Target for Long Trades
📈 Entry Conditions
Short Entry
Price touches or moves above R5
Candle closes back below R5
Indicates rejection from extreme resistance
Long Entry
Price touches or moves below S5
Candle closes back above S5
Indicates rejection from extreme support
🎯 Exit Conditions
Short trades exit at R4
Long trades exit at S4
No stop loss is used
💡 Strategy Concept
This strategy follows a mean reversion approach:
R5 and S5 represent extreme market conditions
Price tends to revert toward equilibrium levels
Reversal probability increases at these zones
🚀 Best Use Cases
Crypto markets (BTC, ETH)
Forex pairs
Index trading
Recommended timeframes:
5 minutes
15 minutes
1 hour
📊 Advantages
Simple and rule based
Uses higher timeframe levels for strong signals
Non repaint logic based on previous weekly data
Clear entry and exit conditions
⚠️ Limitations
No stop loss included
Can underperform in strong trending markets
Requires proper risk management
⚠️ Disclaimer
This strategy is for educational purposes only.
Trading involves risk. Always test and validate before using in live markets.
Camarilla R5 S5 Weekly Reversal Strategy
📄 Short Description (Appears in Preview)
A mean reversion strategy using weekly Camarilla pivot extremes R5 and S5 with targets at R4 and S4. Designed to capture reversals from overextended price zones.
📘 Full Description (Copy-Paste Ready)
📌 Overview
This strategy is based on Camarilla Pivot Points, focusing on extreme reversal levels R5 and S5 derived from the previous week's price action.
It is designed to capture mean reversion moves when price becomes overextended and shows signs of rejection.
⚙️ How It Works
The script calculates weekly Camarilla levels using:
Previous Week High
Previous Week Low
Previous Week Close
From this, it derives key reversal zones:
R5 Extreme Resistance
R4 Target for Short Trades
S5 Extreme Support
S4 Target for Long Trades
📈 Entry Conditions
Short Entry
Price touches or moves above R5
Candle closes back below R5
Indicates rejection from extreme resistance
Long Entry
Price touches or moves below S5
Candle closes back above S5
Indicates rejection from extreme support
🎯 Exit Conditions
Short trades exit at R4
Long trades exit at S4
No stop loss is used
💡 Strategy Concept
This strategy follows a mean reversion approach:
R5 and S5 represent extreme market conditions
Price tends to revert toward equilibrium levels
Reversal probability increases at these zones
🚀 Best Use Cases
Crypto markets (BTC, ETH)
Forex pairs
Index trading
Recommended timeframes:
5 minutes
15 minutes
1 hour
📊 Advantages
Simple and rule based
Uses higher timeframe levels for strong signals
Non repaint logic based on previous weekly data
Clear entry and exit conditions
⚠️ Limitations
No stop loss included
Can underperform in strong trending markets
Requires proper risk management
⚠️ Disclaimer
This strategy is for educational purposes only.
Trading involves risk. Always test and validate before using in live markets.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.