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Camarilla Breakout Metatrader 4 Forex Indicator

    The Camarilla forex indicator for Metatrader 4 is used to trade logical price breakouts.

    It is based on the pivot point along with breakout price levels for both long and short trades.

    The Camarilla forex indicator displays the following breakout levels on the MT4 chart:

    L3 Long, H3 Short, H4 Long Breakout, L4 Short Breakout, L5 SB Target and H5 LB Target.

    The two most interesting breakout levels to keep an eye on are H4 Long Breakout and L4 Short Breakout.

    • For buy breakout trades, price must touch the H4 Long Breakout level
    • For sell breakout trades, price must touch the L4 Short Breakout level

    Free Download

    Download the camarilla.mq4” MT4 indicator

    Example Chart

    The EUR/USD 30-Minute chart below displays the Camarilla Metatrader 4 Forex indicator in action.

    Basic Trading Signals

    Signals from the Camarilla MT4 forex indicator are easy to interpret and goes as follows:

    Buy Signal: Open buy trade when price touches the H4 Long Breakout level from below and take profit at the H5 LB Target price.

    Sell Signal: Open sell trade when price touches the L4 Short Breakout level from above and take profit at the L5 SB Target Target price.

    Trade Exit: Take profit at the aforementioned price targets or use your own method of trade exit.

    Download

    Download the camarilla.mq4” Metatrader 4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: Chart pattern indicator

    Customization options: Variable (alerts, pivot, fibs, support, resistance) Colors, width & Style.

    Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: camarilla

    Installation

    Copy and paste the camarilla.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.

    You can access this folder from the top menu as follows:

    File > Open Data Folder > MQL4 > Indicators (paste here)