DCG Camarilla – VertexFX Indicator

DCG Camarilla is an excellent VertexFX client side VTL indicator for research and analysis purposes, which provides the support and resistance levels based on Daily High, Low and Close.
It provides three supports L2, L3 and L4, and three resistance values H2, H3 and H4
We first calculate P, which is equal to (High + Low + Close) of the previous Daily candle, and R, which is previous Daily High minus Low.
H2 = R * 0.1833 + C
L2 = C - R * 0.1833
H3 = R * 0.2750 + C
L3 = C - R * 0.2750
H4 = R * 0.5500 + C
L4 = C - R * 0.5550
The supports and resistances are calculated as follows :
Traders analyze the various supports and resistances and determine which are breached most frequently. When particular support or resistance level is rarely breached, then it is advisable to place stop-loss below that support, or above that resistance.
NOTE - This indicator DOES NOT provide trading signals.

NOTE - This indicator DOES NOT WORK on time-frame above H4