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).
If "Heikin Ashi for calculation" is checked, then ATR and buy/sell signals are calculated based on heikin ashi candles. You don't need to change bar style to heikin ashi.
I absolutely love your indicator ! I've tried several settings and it always seems to outperform the famous "Chandelier Exit" from Everget.
I hope you can help me with something complicated :
I'm trying to set alerts for this indicator to trigger in real time during the 1mn candles. Either I set it to "Once per bar close" and then the alert only works AFTER the signal-candle is closed (so it lags 1 minute), or I set it to "Once per bar/per minute" and then it only triggers once during the minute then not anymore if the price suddenly reverses up and down before closing.
Which means that when the price is doing ping-pong up and down during a single minute and the Buy signal (example) appears then disappears, then appears again, it creates a problem. I can only manage to send one "Buy alert" when the signals appears, then one "Sell alert" when the signal disappears.. but if the "Buy signal" pops a 2nd time then no alert at all and I get stuck in "Sell" position (which you can imagine, is pretty bad haha)
Thanks in advance, this code is awesome.
medclasse
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@Inerti4, Bro dont use it in 1 min, try it in 15min candel,
Inerti4
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@medclasse, Yeah I was being too greedy, I wanted a bot able to perform thousands of trades per day to capture even the smallest reversals. But we retail don't have the right tools for higher-freq trading, there's always a small lag that f*cks it up haha