I have used Camarilla Pivot Points for my stock trading for 15 years. I cannot believe how accurate they are and was wondering if anyone else has had a lot of experience using this indicator for clarity of signal.
My feeling: Put enough plot points on a chart and the market is bound to hit one of them. I think I backtested this at one point in time and found them to be of no value. Exactly how are you using them ?
I primarily use them to give me trend indicators. When on a buy or sell signal. I also use them as support and resistance but for my overall strategy as a trend follower with reversion entries, I love them to tell me where the big money is flowing.
so....plainly speaking, if you see the market going above a high pivot, that tells you the market is in an uptrend. When it subsequently hits a lower pivot, you go long, right ? If however, the market goes lower after your fill, you exit at the next lowest pivot ?
I have used it a while back, I did not experience the accuracy you have mentioned but perhaps during times of lower volatility its more accurate...