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a few questions

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janwan
14
janwan  
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.
Sergey Golubev
Moderator
99100
Sergey Golubev  
This is well-known trailing stop indicator (indicator to move stop loss by trailing stop) by many versions.

Just some versions from CodeBase:

Chandelier Exit - indicator for MetaTrader 4

Chandelier Exit - indicator for MetaTrader 5
Sergey Golubev
Moderator
99100
Sergey Golubev  

Chandelier 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."

Chandelier Exit [ChartSchool]
Chandelier Exit [ChartSchool]
  • stockcharts.com
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...
Bernhard Schweigert
15257
Bernhard Schweigert  
janwan:
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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