OPEN-SOURCE SCRIPT
Updated

Chandelier Exit

719 930
This is a redesign of the Chandelier Exit indicator. It removes stupid transitions between Chandelier Exit' states and highlights initial points for both lines.

This indicator was originally developed by Charles Le Beau and popularized by Dr. Alexander Elder in his book "Come Into My Trading Room: A Complete Guide to Trading" (2002).

In short, this is a trailing stop-loss based on the Average True Range (ATR).
Release Notes
  • Added Buy/Sell alerts
  • Added Buy/Sell labels
Release Notes
  • Fix erratum
Release Notes
  • Updated to v4
Release Notes
  • Added long/short state highlighting
Release Notes
  • Update
Release Notes
  • Upgraded to PineScript V5
  • Added option to wait for bar confirmation before triggering an alert

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