Chandelier Exit
Chandelier Exit: a trailing stop hung from the highest high or lowest low of recent bars, a multiple of ATR away, that flips with the trend.
How to read it
- The long stop sits under price in an uptrend, the short stop above it in a downtrend.
- The stop only moves in the trade's favour.
- A close through the opposite stop flips the trend and is marked.
Key settings
- ATR period 22, multiplier 3.
- Use close extremes off (highest high / lowest low); flip marks on.
Good to know
- Drawn on the price pane, over the candles.