Chandelier Exit Indicator
Chandelier Exit is a volatility based indicator created to enable a trader to stay in a trade until there is a definite trend reversal. As explained below, a trader will be able to avoid early exit and realize maximum returns in pips by using the Chandelier Exit indicator.
CATEGORIES: MT4, SIGNAL, INFORMATIONAL
Updated on: 31.10.2023
The Chandelier Exit indicator helps the forex traders stay in the trend as long as possible and avoid early exits. The indicator uses a volatility based calculation using the ATR – Average True Range and provides a reliable trailing stop loss. Also, the indicator provides the best entry points upon crossover of the indicator and price. Using the ATR – Average True Range multiplier, traders can further customize the indicator to suit different trading instruments. As a result, this Metatrader indicator provides all necessary inputs to trade the trend successfully.
How to BUY and SELL using the Chandelier Exit MT4 Indicator?
The above GBPUSD H4 chart shows the trading signals generated from December 2, 2020, to January 29, 2021, by the Chandelier Exit MT4 Indicator. The indicator levels provide the best support and resistance levels as the values are calculated dynamically according to the ATR – Average True Range values. As a result, a breach of these levels can be considered by traders as an entry point.
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