Chandelier Exit an Stop and Reverse Trend Filter
- Indicators
-
Minh Truong Pham
Hello, my name is Pham and I am a programmer and trader! At here, I create amazing forex indicators and expert advisors for Metatrader.
I will try:
+ Provide best tools base on my 5 years experience as a trader and 10 years as a programmer. - Version: 2.0
- Activations: 15
Chandelier Exit / Stop — ATR Stop-and-Reverse Trend Filter
**Know where the trend ends before it turns against you.**
Chandelier Exit is a classic volatility-based trailing stop that hangs off the highest high (in an uptrend) or the lowest low (in a downtrend) by a multiple of Average True Range. It plots a clean stop-and-reverse line that follows price as long as the trend holds — and flips the moment price closes through it. The current trend is highlighted right on the chart, and every flip is marked with an arrow and a Buy/Sell label. No repainting: signals are confirmed on closed bars.
## What it does
- Draws an **ATR trailing stop** that trails below price in an uptrend and above price in a downtrend.
- **Colored by direction**: a green line while the trend is up, a red line while the trend is down. Only one line is active at a time, so the chart stays clean.
- **Trend-state highlight**: shades the zone between price and the stop — green in an uptrend, red in a downtrend — for an instant read of who's in control.
- Marks each trend change with a **flip arrow** and an optional **Buy / Sell label**.
- **Alerts** the moment the trend flips (popup / mobile push / email / Telegram), with an option to fire only on a confirmed (closed) bar.
## Why traders use it
- **Trend direction at a glance** — line color, slope and the shaded state tell you which side to be on.
- **A ready-made trailing stop** — use the line value directly to manage stop-loss on open positions.
- **Objective entries/exits** — a flip is an unambiguous, mechanical signal you can build rules around.
- **Non-repainting** — signals evaluate on closed bars, so a printed arrow never disappears.
- **Two indicators in one** — close-based (everget) or high/low-based (original) anchoring via the `Use Close` switch.
## How to use it
1. **Trend filter:** trade only in the direction of the line — longs while it is green (below price), shorts while it is red (above price).
2. **Entry:** open on the Buy/Sell flip, or on the first pullback after a flip.
3. **Trailing stop:** move your stop to the Chandelier line as it advances; exit when price closes across it.
4. **Confirmation:** combine with your own structure, momentum, or higher-timeframe bias for higher-probability setups.
Works on any symbol and any timeframe — Forex, indices, metals, crypto, stocks.
## Input parameters
| Parameter | Default | Description |
|-----------|---------|-------------|
| **Look Back Period** | 22 | Bars used for the highest / lowest extremum anchor |
| **ATR Period** | 22 | Period of the Average True Range |
| **ATR Multiplier** | 3.0 | Distance of the stop from the anchor, in ATRs |
| **Use Close price for extremums** | true | `true` = close-based (Chandelier Exit); `false` = high/low-based (original Chandelier Stop) |
| **Highlight trend state** | true | Shade the zone between price and the active stop |
| **Show Buy/Sell labels** | true | Print a "Buy" / "Sell" label at each flip |
| **Show flip arrows** | true | Draw an arrow at each trend change |
| **Arrow / label font size** | 12 | Size of the arrows and labels |
| **Await Bar Confirmation** | true | Alert only once the signal bar has closed (no intrabar alerts) |
| **Notification type** | None | None / Alert / Mobile push / Email / Telegram / All |
| **Email subject / Telegram settings** | — | Delivery details for the selected channel |
**Tuning tips:** a larger *ATR Multiplier* or *Look Back Period* gives a wider, slower stop that rides trends longer with fewer whipsaws; smaller values react faster but flip more often. The classic setting is 22 / 22 / 3.0. Set *Use Close* to `false` for the original high/low Chandelier Stop behaviour.
## Notes
- Signals are calculated on **closed bars only** — non-repainting and backtest-consistent.
- ATR uses Wilder smoothing.
