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Chandelier Exit Variation
Below is a variation of the Chandelier Exit that I came up with. It doesn't solve
the original question, but I like the way it plots better. It holds the highest value every time the stop moves up, and never moves lower unless the stop is hit, in which case its value isreset.

Chandelier Exit Variation

Stop1:=If( PREV < L,
{then} If(( H - 3*ATR(10) ) >= PREV,
{then} ( H - 3*ATR(10) ),
{else} PREV),
{else (L <= PREV)}
( H - 3*ATR(10) ));

Stop2:=If( PREV < L,
{then} If(( C - 2.5*ATR(10) ) >= PREV,
{then} ( C - 2.5*ATR(10) ),
{else} PREV),
{else (L <= PREV)}
( C - 2.5*ATR(10) ));




from Barry Marx
Source / From: TOP

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