Chandelier Exit - but a special version
I came across many different chandelier exit implementations for MT4, but never found an EA working like thisone delivered with vtrader.
The code of vtrader is attached as vtrader_code.txt
also "a" chandelier implementation for MT4 is attached.
I am looking for someone who could modify the mql code to work exactely like the vtrader one, but also with some additions to be modified to make it even better...the first one is simple..it shall only issue an order (change status from short to long etc) based on the previous candle is CLOSED, also the chandelier exit line would never move up in a downtrend, as the attached mql version does.
Further improvements are ready to be discussed !
Is there anyone out there able and interested to code this ?
i'm not sure if i understand the whole system you are getting at...but you can use this for a chandelier stop in whatever EA you are currently using.
M15 with 50% retrace from last High / Low
Linuxuser, I really appreciate your openness and hardwork. You have inspired me to respond to this thread. This perhaps is not the right thread to be sharing this, so please forgive me. However, I, too, have tried working with ATRs and ZZs.
At this point, I only trade the GBP / JPY trade with this setup because it is so easy to follow and easy to make money trading.
Below is a picture of my setup that works quite well. Perhaps you already have these indies, I don't know. If you are interested in persuing this further, please let me know.
1. FAST GMMA (I removed some of 'unecessary' lines)
Settings: 2 / 5 / 14 / 3 / 0
2. MTF Absolute Strength (thanks to Igord) this version is better than the original IMO.
Settings: M30/ 1 / 8 / 5 / 5 / 0 / 3
3. FX Snipers T3 CCI
Settings: 26 / 9 / 0.618
4. ZZ butterfly
Settings 32 / 3 / 12
(I use these to quickly spot the high / low
Two different Setup ideas -
1. Look for the previous high / low and Apply the Fibo Retracement lines and wait for a retrace above the 50% then enter assuming your bottom indicators ALSO agree.
2. OR each time the Fast GMMA Yellow Line Xcrosses its other lines, then apply the Fibo Retracement lines and wait for a retrace above the 50% line then enter a trade assuming your other indicators agree.
The Fibo Retrace Filters the other Indicators
Notice the Fibo Retrace filtering the other indicators for us.
We can continue with the trade or reenter after taking profit on the pullback.
Again, I have only trade this with the GBP JPY pair.
Today's Setup and Entry
This is the most recent entry using this Setup.
Entry @ 237.03
Low @ 236.39
Notice in the second pix that the "most recent trade" is actually a continuation trade from yesterday, but you could have entered the trade today if you missed it yesterday using the same setup.