Camarilla Reversal Scanners

[MIGS 3]

Anyone trying Matt Crafton Camarilla reversals Trade Ideas alerts?...these are published for download in the BB chat as "Camarilla Reversal Scanners"

 

Been playing with these live in my SIM account for the last couple days and seem to me a magnificent tool for reversals when used with DAS Camarilla pivot points study...

Would like to exchange experiences and perhaps discuss refinements (some settings seem inconsistent or perhaps just typos ? ).:

 

 -Position in range filter for every alert ? (wondering why not set for all of them), so filter only alerts the first time limits are tested during the day

-Use a % off the last price (say 1%)  instead of fixed 10 pennies for the alert thresholds  ... 10c too small for stocks priced above $100 to get the alert with sufficient anticipation

- For "Open Above R4 back at R3  -long" alert: shouldn't it be instead Price -R3>0.1 / Price-R4<0  (back at R3) (??)

-For "Open Below S4 back at S3 - short" : 

      *Meant instead "Open Below S4 back at R3 - short" (??), author is using a setting the alert for R3 not S3.

            *Should limit be "  % Open Below S4 filter <0 (instead of “% Open below S3”)

-Open Below S3 back at R3 (Short) : alert settings are for a different alert (open below S4  back at S4).... (??)

          - How about other combinations like "Open Above R4 and back at S4 (long)", etc....

[Roberto 10]

I loaded them. Double check the document. There was a couple pics that didn't match the settings. Also, I find the cam equations didn't match ibkr calculations.... 

Just now, Roberto said:

I loaded them. Double check the document. There was a couple pics that didn't match the settings. Also, I find the cam equations didn't match ibkr calculations....would like to see someone double check the math... 

 

[MIGS 3]

Matt's formulas for the Camarilla pivot points match the definition ( R/S = Close +/- Range*1.1/n, n=12,6,4,2 for R/S 1-2-3-4 respectively), and are the same IBKR shows in their website.  I use DAS and their Camarilla alerts match the levels the scanners are alerting you for, at least the ones I believe are set correctly.

The calculations in Matt's scanner are ratios based in the Camarilla pivot points.  For example R3% =  (P-R3)R3,  where P = price and R3 is resistance 3.

If you are loading the alert window using the provided "collaboration link" you need to most likely revise the filters in each of the scanners as the filter identifiers in YOUR Trade Ideas account (Ex. U9) will likely NOT match the same used in Matt's TI account as these are arbitrarily assigned.  What needs to match is the filter definition (ex. Price - R3), as in the screenshots in the word document (the filter labels are irrelevant).

What I found are the inconsistencies I indicate in my original message and I wonder if someone has perhaps run into the same and already got a response from the author (I emailed Matt a couple days ago) ... 

[Roberto 10]

1 hour ago, Roberto said:

I loaded them. Double check the document. There was a couple pics that didn't match the settings. Also, I find the cam equations didn't match ibkr calculations....would like to see someone double check the math... 

Yeah, the formulas match, but the IRL levels didn't. 

There's two issues. Some formulas weren't right, and the screenshots weren't all correct. I moved on to other systems and didn't keep this one. 

[trader77 1]

Most of the points match ibrk/TI.

Did you solve the problem for some stratégies? especially :

open above R4 back at R3 
open above R3 back at S3 
open Below S4 back at S3 
open Below S3 back at R3 

[Roberto 10]

I haven't had time to revisit this, been occupied with different strategies. 

[trader77 1]

Ok. I will try to solve this today and i think it's not complicated.

[Palashe 1]

Hi all, I'm thinking of utilizing this scanner. Does it work properly? Anything else I should look out for before I set it up? 

[MIGS 3]

Test in SIM first ...a couple of them have mixed up screenshots

Use as potential levels but with other indicators for confirmation ( Ex. actual historical levels, etc)...never use blindly

[mmatkoski 0]

On 3/17/2021 at 6:10 PM, MIGS said:

Matt's formulas for the Camarilla pivot points match the definition ( R/S = Close +/- Range*1.1/n, n=12,6,4,2 for R/S 1-2-3-4 respectively), and are the same IBKR shows in their website.  I use DAS and their Camarilla alerts match the levels the scanners are alerting you for, at least the ones I believe are set correctly.

The calculations in Matt's scanner are ratios based in the Camarilla pivot points.  For example R3% =  (P-R3)R3,  where P = price and R3 is resistance 3.

If you are loading the alert window using the provided "collaboration link" you need to most likely revise the filters in each of the scanners as the filter identifiers in YOUR Trade Ideas account (Ex. U9) will likely NOT match the same used in Matt's TI account as these are arbitrarily assigned.  What needs to match is the filter definition (ex. Price - R3), as in the screenshots in the word document (the filter labels are irrelevant).

What I found are the inconsistencies I indicate in my original message and I wonder if someone has perhaps run into the same and already got a response from the author (I emailed Matt a couple days ago) ... 

I'm new to DAS. Could you describe how to set the Camarilla alerts? I have the studies set up like Thor, but I didn't know there were alerts for the pivots in DAS. That would be awesome!

[MIGS 3]

These alert definitions are for Trade Ideas..not DAS....if you get the subscription, Matt’s definitions can be downloaded from the download link in the BBT chat 

[Another Peter 2]

Migs, could you post a TI cloudlink for your modified pivots alert? I'm running into similar issues as noted above. 

Edited August 15, 2021 by Another Peter

[Triple J 4]

I've recently installed these indicators on my Trade Ideas and have been monitoring/experimenting in SIM for a couple weeks now.  Seeing some encouraging outcomes. Like any scanner signal,  one cannot expect to blindly play these alerts successfully.  But when coupled with confirmations  from multiple time frame candles and the proper VPA these alerts seem to be a worthwhile tool with which to expand a tradebook.  

I typically see a large volume of the first two signals from Matt C's list each morning for first hour after open (S2-S3 Long) and R2-R3 Short).  I only occasionally get one of the other signals.  I know this thread outlined some issues previously with the proper set-up on TI.  Haven't seen any recent dialogue on this, so hoping this post might stimulate some new dialogue on these alerts.  Anybody still using them?

[Javier Colon 0]

how is this sccaner working for eveyone?

[dmiles 19]

@MIGS @Javier Colon @Triple J @Another Peter @trader77 I know this is an old thread, I just thought I would throw out a post to see where everyone is at with their Cam scanners. Due to the issue @MIGS pointed out with the arbitrary labeling of formulas, I scrapped the idea of using the collaboration link, and started doing my own scanners from scratch, which is what I believe I should be doing anyway.

I ended up with a scanner that works well for me, in fact it is what I use every day at the open. I look at an alert, and if it meets my criteria, I watch it for a pullback. I normally use VWAP for shorts, or a moving average for longs. My stop is always the open price, and I have found that if a short breaks above the open price and holds, then it usually turns into a good long. I believe the historical volume threshold is the predominant indicator in these scanners. I have noticed that the best performers are often ones that were on the gappers watchlist, or have a catalyst. 

Of course, nothing is 100%, and I don't have version of TI that includes backtesting. But the scanner I ended up with got me a trade book that I am able to use for consistent profitability. I guess you could say that I used the school of hard knocks for backtesting.

I was never able to get any kind of satisfactory results from any of the "Open above" or "Open Below" scanners, and I stopped working on those. I would like to revisit those, and my current project is focusing on the R3 and S3 levels for breakouts or breakdowns. I'm thinking about a scanner that I can use with a symbol list, and just get alerted whenever any stock on that list hits R3, or S3. My plan would be to add that days watchlist, and then just leave them on a list of usual suspects. That way I would get an alert whenever any of those stocks hit those levels, without having to put in other factors such as volume, or float etc.

As has been mentioned, using the collaboration links is not really practical, due to the way TI labels formulas. I did reach out to them regarding this, but there was no interest in making any changes in that area. I'm getting ready to start bootcamp, and I have a day job, so my available time to devote to this will be limited in the next three months. But if there is enough interest, I would be willing to work with anyone who is looking to take Cam scanners to the next level. Perhaps a new thread is warranted.

Just an FYI, I put the New High or Low Bid or Ask scanner together that is used in chat. I submitted it for a BBT contest a couple of years back. I didn't win, but I am really happy that so many traders have been able to use it successfully.

Thanks!

Edited January 2, 2022 by dmiles