CHANDELIER EXIT Trading Guide

The Chandelier Exit is a quantitative technical analysis tool. Chandelier Exit Indicator Based on everget Pine Script Trailing stop-loss based on ATR

What does the indicator show?

• Market Structure & Momentum: Visualizes prevailing trend directions and key reversal zones.
• BUY / SELL Signals: Highlights confirmed entry and exit opportunities based on quantitative rules.
• Dynamic Boundaries: Provides adaptive levels for managing trade risk and reward expectations.

Key Settings

• ATR Period (atrPeriod): Controls the calculation period and sensitivity for market detection.
• ATR Multiplier (atrMultiplier): Controls the calculation period and sensitivity for market detection.
• Use Close Price (useClose): Controls the calculation period and sensitivity for market detection.
• Show Labels (showLabels): Controls the calculation period and sensitivity for market detection.
• Highlight State (highlightState): Controls the calculation period and sensitivity for market detection.
• Additional SL % (slPercent): Controls the calculation period and sensitivity for market detection.
• TP Ratio (tpRatio): Controls the calculation period and sensitivity for market detection.
• Show SL & TP Lines (showSLTP): Controls the calculation period and sensitivity for market detection.
• Buy Signal Lookback (buyLookback): Controls the calculation period and sensitivity for market detection.
• Sell Signal Lookback (sellLookback): Controls the calculation period and sensitivity for market detection.
• Long Stop (longStop): Controls the calculation period and sensitivity for market detection.
• Short Stop (shortStop): Controls the calculation period and sensitivity for market detection.
• Stop Loss (slLevel): Controls the calculation period and sensitivity for market detection.
• Take Profit (tpLevel): Controls the calculation period and sensitivity for market detection.
• Is Long (isLong): Controls the calculation period and sensitivity for market detection.
• Is Short (isShort): Controls the calculation period and sensitivity for market detection.
• Buy Signal (buySignal): Controls the calculation period and sensitivity for market detection.
• Sell Signal (sellSignal): Controls the calculation period and sensitivity for market detection.
• Buy Signals Last N (buySignalsCount): Controls the calculation period and sensitivity for market detection.
• Sell Signals Last N (sellSignalsCount): Controls the calculation period and sensitivity for market detection.
• Long Stop Color (longColor): Controls the calculation period and sensitivity for market detection.
• Short Stop Color (shortColor): Controls the calculation period and sensitivity for market detection.
• SL Line Color (slColor): Controls the calculation period and sensitivity for market detection.
• TP Line Color (tpColor): Controls the calculation period and sensitivity for market detection.
• Buy Signal (buySignal): Controls the calculation period and sensitivity for market detection.
• Sell Signal (sellSignal): Controls the calculation period and sensitivity for market detection.
• Buy Signals Count (buySignalsCount): Controls the calculation period and sensitivity for market detection.
• Sell Signals Count (sellSignalsCount): Controls the calculation period and sensitivity for market detection.
• Is Long (isLong): Controls the calculation period and sensitivity for market detection.
• Is Short (isShort): Controls the calculation period and sensitivity for market detection.
• Long Stop Level (longStop): Controls the calculation period and sensitivity for market detection.
• Short Stop Level (shortStop): Controls the calculation period and sensitivity for market detection.
• Calculated Active SL (slLevel): Controls the calculation period and sensitivity for market detection.
• Calculated Active TP (tpLevel): Controls the calculation period and sensitivity for market detection.

How to use Strategy Parameters (Condition Source)

Within the Strategy Tester module, this indicator can be used both as a direct signal source and as a market-state filter.

1. Signal Events

• buySignal - Buy Signal event signal.
• sellSignal - Sell Signal event signal.
• isLong - Is Long event signal.
• isShort - Is Short event signal.

2. Filters and Trade Levels

• atrPeriod - ATR Period value used for structural qualification or thresholds.
• atrMultiplier - ATR Multiplier value used for structural qualification or thresholds.
• useClose - Use Close Price value used for structural qualification or thresholds.
• showLabels - Show Labels value used for structural qualification or thresholds.
• highlightState - Highlight State value used for structural qualification or thresholds.
• slPercent - Additional SL % value used for structural qualification or thresholds.
• tpRatio - TP Ratio value used for structural qualification or thresholds.
• showSLTP - Show SL & TP Lines value used for structural qualification or thresholds.
• buyLookback - Buy Signal Lookback value used for structural qualification or thresholds.
• sellLookback - Sell Signal Lookback value used for structural qualification or thresholds.
• longStop - Long Stop value used for structural qualification or thresholds.
• shortStop - Short Stop value used for structural qualification or thresholds.
• slLevel - Stop Loss value used for structural qualification or thresholds.
• tpLevel - Take Profit value used for structural qualification or thresholds.
• isLong - Is Long value used for structural qualification or thresholds.
• isShort - Is Short value used for structural qualification or thresholds.
• buySignal - Buy Signal value used for structural qualification or thresholds.
• sellSignal - Sell Signal value used for structural qualification or thresholds.
• buySignalsCount - Buy Signals Last N value used for structural qualification or thresholds.
• sellSignalsCount - Sell Signals Last N value used for structural qualification or thresholds.
• longColor - Long Stop Color value used for structural qualification or thresholds.
• shortColor - Short Stop Color value used for structural qualification or thresholds.
• slColor - SL Line Color value used for structural qualification or thresholds.
• tpColor - TP Line Color value used for structural qualification or thresholds.
• buySignalsCount - Buy Signals Count value used for structural qualification or thresholds.
• sellSignalsCount - Sell Signals Count value used for structural qualification or thresholds.
• longStop - Long Stop Level value used for structural qualification or thresholds.
• shortStop - Short Stop Level value used for structural qualification or thresholds.
• slLevel - Calculated Active SL value used for structural qualification or thresholds.
• tpLevel - Calculated Active TP value used for structural qualification or thresholds.

Strategy Example: Enter Long when buySignal is true and trendFilter == 1, ensuring trades align with dominant momentum.