Candle High Low Exit
- Indicators
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BLAKE STEVEN RODGER
I’ve been trading Forex since 1998 and developing trading algorithms and tools to exploit trends since 2002.
I launched ALGOSAMURAI.COM in 2017 to help all traders succeed in this very challenging market with some of my best strategies and tools. - Version: 1.7
- Updated: 12 April 2023
The Candle High Low Exit indicator uses the highest high and the lowest low of a range to draw trailing stop lines (orange under buys, magenta over sells) that advance with the trend until the trend changes direction. Moreover, the trailing stop lines are generated to support the order’s trend direction (long or short):
- In an upward trend, the long trailing stop line (orange line under buy) appears and advances upward until the close crosses under the line.
- In a downward trend, the short trailing stop line (magenta over sell) appears and declines until the close crosses over the line.
The Candle High Low Exit is one of 14 indicator-based trailing stops comprising our Universal Trailing Stop EA. You don't need to download this indicator to make it work in the UTS EA, as the indicator is already built into it, but if you want to see how your trailing stops auto-adjust to the indicator lines on the chart of UTS-EA when you set Apply indicator template=true, you need to download this indicator.
Parameters
- Candles (3) — The number of candles for the calculation
- Show Channel (true/false) — if false (default), it shows the orange line under buy in upward trend, magenta line over sell in downward trend; if true, it shows a channel on both sides of the price.
useful and powerful, thanks for sharing