Camarilla-Levels

If you want to check if the market opens at some particular price and then take action on that same trading day, use the NextSessionOpen indicator that's in the PowerPack extension. As far as Camarilla levels, I have a request to make a video about how to create custom indicator libraries for WL8 so I can use these as a basis for that video. I'll use the WealthLab.Community library and place a Camarilla indicator into there for the video, so it'll be available for you in the next WL8 build.

Awesome, thank you very much

Camarilla Levels are now in place in Build 144, you can update now. Share your favorite Camarilla Levels setup and I'll see if I can implement and backtest it and share the results here!

Awesome, thank you.

Were looking to base trades depending upon the opening price (as of right now).
If price opens in between R3 and R4, buy entry at R4 (profit objective to be determined, stop placement at R3).
If price opens between R3 and S3 catch the reversion trade, at R3 short (stop at R4/profit S1, S2, orS3, should be optimizable). If it shorts, then look for a reversion long at S3 (stop at S4, profit R1, R2 or R3)
If price opens between S3 and S4, short the S4 breakout.

Those are the general rules, although we won't be shorting on stocks for now.

First off, if you've already downloaded Build 144, please update again to Build 145. I made a slight change to how the Camarilla indicator behaves to make it easier to work with when backtesting.

I decided to start a blog series about implementing these ideas, here's the first installment:

https://www.wealth-lab.com/blog/building-a-camarilla-levels-opening-breakout-strategy-in-wealthlab-part-1

Thanks, we're all over this! This is the the type of dynamic platform that we've been looking for; to work with our brokers. So, thumbs up! Thank you