Camarilla indicator delivers on aud/usd

00:14

The speaker discusses analyzing the Australian dollar using Renko charts on NinjaTrader 8, noting that the Renko settings differ from those in NinjaTrader 5. They mention the ability to add more indicators to Renko charts in NinjaTrader 8 and describe the price action as in congestion, having just moved above a key level.

00:54

The speaker discusses the R4 level currently at 4.3 pips, compared to a previous level at 2.7 pips which had a longer congestion phase. They mention the target was the R5 level. The Camarillo indicator used has six levels, unlike most market versions that only offer four, as it is a price-based tool with some custom programming enhancements.

01:33

The discussion focuses on the rapid rise to the level five, driven by volatility, and highlights level six as a crucial threshold. Breaking through level six is considered a significant and genuine breakout. The price action showed a reversal off level six after surpassing level five, with comparisons drawn to patterns observed on a three-minute chart.

02:11

The speaker discusses a significant spike in volatility that caused a sharp rise in the Australian dollar. This movement is described as a retracement into the spread of the candle, with the high point aligning precisely with the R6 level on the Renko chart. The R6 is highlighted as a very accurate indicator for identifying key levels on a chart, and some traders in the room reportedly use this method on Renko charts.

02:49

The speaker reflects on their experience, mentioning that they found something extremely useful. They briefly describe their actions and feelings, noting a quick departure and a sense of happiness at the site.