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Chandelier Exit

everget Wizard Updated   
elder Trend Analysis Volatility lebeau Chandelier Exit chandelierexit exit stoploss trailingstop trailingstoploss atrstop
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elder trendanalysis volatility lebeau chandelier chandelierexit exit stoploss trailingstop trailingstoploss atrstop
This is a redesign of the Chandelier Exit indicator. It removes stupid transitions between Chandelier Exit' states and highlights initial points for both lines.

This indicator was originally developed by Charles Le Beau and popularized by Dr. Alexander Elder in his book "Come Into My Trading Room: A Complete Guide to Trading" (2002).

In short, this is a trailing stop-loss based on the Average True Range (ATR).
Release Notes:
  • Added Buy/Sell alerts
  • Added Buy/Sell labels
Release Notes:
  • Fix erratum
Release Notes:
  • Updated to v4
Release Notes:
  • Added long/short state highlighting
Release Notes:
  • Update
Release Notes:
  • Upgraded to PineScript V5
  • Added option to wait for bar confirmation before triggering an alert
Freelance -> Telegram: @alex_everget

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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