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Indicators: Indicator for evaluation of trading strategies

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MetaQuotes Software Corp.  

Indicator for evaluation of trading strategies:

With this system you will be able to evaluate strategies in an objective way, to develop strategies and see immediate trading results after making changes, to test multi-currency strategies, etc. Sample trading indicator is also included.

Author: Robert Leskovar

MQL4 Comments
16319
MQL4 Comments  
From the description of the ''Chandelier' TSL exit strategy', I don't see any difference between it and a normal MT4/MQL4 'Trailing Stop Loss'?
If being calculated on the broker's server, which is the 'norm,' as opposed to being entirely calculated within the EA and modification or close trade orders only sent to the server at the times dictated by the actual EA. If being done on the broker's server which is the norm, once the trade has a profit level equivalent to the TSL and becomes 'activated', the 'regular' stop loss 'ratchets up' (on Long Buy orders) following the highest price. It never drops down below that level and the exit trade is carried out once the price drops back down and hits the highest TSL that triggers closing out the trade.
This is exactly the same as the description of the ''
Chandelier' Trailing Stop Loss' exit strategy that you are referring to.
So how is the
''Chandelier' Trailing Stop Loss' exit strategy any different from the regular standard TSL in MT4/MQL4 ?
Robert Leskovar
15
Robert Leskovar  
FourX:
From the description of the ''Chandelier' TSL exit strategy', I don't see any difference between it and a normal MT4/MQL4 'Trailing Stop Loss'?
If being calculated on the broker's server, which is the 'norm,' as opposed to being entirely calculated within the EA and modification or close trade orders only sent to the server at the times dictated by the actual EA. If being done on the broker's server which is the norm, once the trade has a profit level equivalent to the TSL and becomes 'activated', the 'regular' stop loss 'ratchets up' (on Long Buy orders) following the highest price. It never drops down below that level and the exit trade is carried out once the price drops back down and hits the highest TSL that triggers closing out the trade.
This is exactly the same as the description of the ''
Chandelier' Trailing Stop Loss' exit strategy that you are referring to.
So how is the
''Chandelier' Trailing Stop Loss' exit strategy any different from the regular standard TSL in MT4/MQL4 ?

Sorry, I must have missed this question. Please find more about the Chandelier exit here: http://forex-indicators.net/volatility-indicators/chandelier-exit. Compared to the regular TSL handling it does not use a fixed distance but an ATR-based distance from the current price, which can allow one to stay longer in the trend.
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