Using multiple timeframes for the camarilla levels indicator on NinjaTrader

Using multiple timeframes for the camarilla levels indicator on NinjaTrader

Using multiple timeframes is one of the building blocks of trading success but one which applies equally to indicators for NinjaTrader also, and in this case it’s the Camarilla levels indicator.

00:18

Pause due to technical issue

00:18

The session is temporarily paused due to a technical issue with one of David’s monitors. Despite having an impressive move underway, the team requests viewers to be patient for about a minute while they resolve the problem. Viewers are encouraged to submit any questions in the chat, which will be addressed during the pause.

00:48

Aussie Dollar chart overview

00:48

The speaker introduces the Australian dollar chart on a 60-minute timeframe using NinjaTrader software. The chart features candlesticks, volatility indicators, and volume. The presenter focuses on observing price levels and toggling through different timeframes, mentioning classic chart patterns as part of their analysis approach.

01:20

Double top pattern analysis

01:20

The speaker discusses a technical analysis pattern known as a double top, highlighting multiple points where this pattern appears on the chart. They describe attempts to break away from a resistance level (r4), followed by retests and a period where the price closely hugged the resistance. The pattern was identified on an hourly chart, emphasizing its significance in the analysis.

01:55

Strong patterns on slow timeframes

01:55

The speaker discusses strong chart patterns such as double tops and double bottoms on slower timeframes, which can lead to significant price moves. Using the Australian dollar as an example, they highlight how rising volume and key resistance levels (R1 and R2) acted as a springboard for a subsequent upward move.

02:27

Aussie dollar level movements

02:27

The speaker discusses the price movement around the R4 level, noting that levels frequently come into play but the market is moving slowly. They mention the possibility of a triple top formation on the Aussie dollar, which would represent a very strong technical pattern, even stronger than a double top.

03:01

CAD/JPY trade and reversal

03:01

The speaker discusses a patented trading strategy that another student successfully applied, particularly on one of the pound currency pairs. A notable, quick trade occurred on the CAD/JPY pair, featuring a significant upward move. After overcoming resistance levels and retesting congestion areas, the price reversed and climbed further, demonstrating key market behaviors and patterns observed during the trade.

03:42

Monitor issue resolved, handover to David

03:42

The speaker comments on the market’s uncertain direction following recent strong movements over the past two days. They note the significant volatility in the pair since Tuesday and Wednesday, then hand over to David, who has resolved his technical issues and is ready to continue.

By Anna Coulling – creator of volume price analysis