Pivot Points Strategy

12 jam yang lalu

Trade Entry Logic
Long Entry: The strategy enters a long position when the price crosses above the primary pivot level (P). This crossover indicates a potential uptrend or bullish momentum.
Short Entry: The strategy enters a short position when the price crosses below the primary pivot level (P). This crossunder suggests bearish momentum or a potential downtrend.

Trade Exit Logic
Long Exit: If a long position is active and the price reaches or exceeds R4, the strategy will exit the long position. R4 serves as an upper target, signaling that the bullish momentum might be losing steam.
Short Exit: If a short position is active and the price reaches or falls below S4, the strategy exits the short position. S4 is used as a target for short positions, indicating that downward momentum may be weakening.

Alerts
The strategy includes alerts for exits:
When a long position exits at R4, an alert is triggered with the message "Exit Long Trade at R4."
When a short position exits at S4, an alert is triggered with the message "Exit Short Trade at S4."
Strategy Rationale
This strategy is based on the concept that certain price levels act as psychological boundaries where price may reverse, pause, or breakout significantly. By using Camarilla pivots, the strategy aims to capture moves within strong support and resistance boundaries, providing guidance on entry and exit points.