A simple interpretation of the Chandelier Exit by Chuck Le Beau 0

Posted on 17, June 2013

in Category SID


Description for ChandelierExit SID 767

A simple interpretation of the Chandelier Exit by Chuck Le Beau

A simple interpretation of the Chandelier Exit by Chuck Le Beau/sid The logic for this function:

#A simple interpretation of the Chandelier Exit by Chuck Le Beau 

#The Chandelier Exit hangs a trailing stop from the highest high of the position, 
#minus a multiple of the 45 bar Average True Range (ATR). This function simply returns 
#a value that can be used in a stop order. This function can except an optional parameter
#to specify a multiple of ATR to use, a default of 3 is used when nothing is passed. 
#This function assumes the position is long.

my ($atr)=@_;
if (Position) {
  $atr=3 if not defined($atr);
  return (MaxPriceSinceEntry-(Today(ATR(45)) * $atr));
}
#no position, return undefined
return undef;

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