- Did you see such a picture?
- Chandelier Trailing Stop Indicator
- RE : Flipit and Chandelier Stops
Just some versions from CodeBase:
Chandelier Exit - indicator for MetaTrader 4
Chandelier Exit - indicator for MetaTrader 5Chandelier Exit (from the StockChart article)
"Developed by Charles Le Beau and featured in Alexander Elder's books,
the Chandelier Exit sets a trailing stop-loss based on the Average True
Range (ATR). The indicator is designed to keep traders in a trend and
prevent an early exit as long as the trend extends. Typically, the
Chandelier Exit will be above prices during a downtrend and below prices
during an uptrend."
Chandelier Exit (long) = 22-day High - ATR(22) x 3
Chandelier Exit (short) = 22-day Low + ATR(22) x 3
"The Chandelier Exit formula consists of three parts: a period high or
period low, the Average True Range (ATR) and a multiplier. Using the
default setting of 22-periods on a daily chart, the Chandelier exit will
look for the highest high or lowest low of the last 22 days. Note that
there are 22 trading days in a month. This parameter (22) will also be
used to calculate the Average True Range."
- stockcharts.com
Who can help me! what is a Chandelier stop loss and where can I find it. 2nd question how do I get a renco chart in my MT4 platform I can't find it in my platform.
for renco you need a script to make an offline chart, then open the offline chart.
But to be honest it is not worth the effort.
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