Chandelier Stop

A modified verion of the Chande & Kroll's Stop indicator.
Open-source Skript

Ganz im Sinne von TradingView hat der Autor dieses Skripts es als Open-Source veröffentlicht, damit Trader es verstehen und überprüfen können. Ein Hoch auf den Autor! Sie können es kostenlos verwenden, aber die Wiederverwendung dieses Codes in einer Publikation unterliegt den Hausregeln. Sie können das Skript den Favoriten hinzufügen, um es auf dem Chart zu verwenden.

Möchten Sie dieses Skript auf einem Chart verwenden?
//| Edited original VStop Script from LazyBear using info from       |
//|                                           ChandelierStops_v1.mq4 |
//|                                  Copyright © 2006, Forex-TSD.com |
//|                         Written by IgorAD,igorad2003@yahoo.co.uk |   
//|            http://finance.groups.yahoo.com/group/TrendLaboratory |                                      

study("Chandelier Stop", overlay=true)

//input variables
Length=input(title="Look Back Period", type=integer, defval=22)
ATRPeriod=input(title="ATR Period", type=integer, defval=22)
Mult=input(title="ATR Multiplier", type=integer, defval=3)

//calculate stop value
short_stop = lowest(Length)+Mult*atr(ATRPeriod)
long_stop  = highest(Length)-Mult*atr(ATRPeriod)

shortvs=na(shortvs[1]) ? short_stop : iff(close>shortvs[1], short_stop , min(short_stop,shortvs[1]))
longvs=na(longvs[1]) ? long_stop : iff(close<longvs[1], long_stop, max(long_stop,longvs[1]))

longswitch=iff (close>=shortvs[1] and close[1]<shortvs[1] , 1 ,  0)
shortswitch=iff (close<=longvs[1] and close[1]>longvs[1] ,  1 ,  0)

direction= iff(na(direction[1]), 0, 
			iff (direction[1]<=0 and longswitch, 1, 
			iff (direction[1]>=0 and shortswitch, -1, direction[1])))

plot(pc, color=direction>0?aqua:fuchsia, style=circles, linewidth=2)
plot(pc, color=direction>0?aqua:fuchsia, style=line, linewidth=2)


How would you place an alert on this indicator, Trying to have one every time it changes color or direction.
+33 Antworten

you may or may not care but a lot of people aren't aware of the linebr option as a plot. It gets rid of the line that connects from the True/False condition. Gives you the benefit of using a line...but not a continuous line. See chart below.

I changed the 3rd to last line that said pc=direction... to:

pcup=direction>0?longvs : na
pcdn=direction<0?shortvs : na

plot(pcup, color=aqua, style=circles, linewidth=2)
plot(pcup, color=aqua, style=linebr, linewidth=2)

plot(pcdn, color=fuchsia, style=circles, linewidth=2)
plot(pcdn, color=fuchsia, style=linebr, linewidth=2)

+7 Antworten
pipCharlie ChrisMoody
AWESOME!! Thanks Chris now it looks exactly how I wanted it.
If you ever get an opportunity, I'd love to see an MTF version. I haven't learned how to do that yet.
+2 Antworten
ChrisMoody pipCharlie
No problem...it's a lot cleaner that way.

You probably know how to do this already. But I have a similar code that Paints the bars when they change direction, ability to turn on off Long or short side, plot background highlights on the reversals...etc. I try to throw in about every option available per indicator so people can see what the capabilities are. If you want to check it out and see if there is anything you would want to use ...
+2 Antworten
pipCharlie ChrisMoody
I definitely will. Thanks again for you assistance, your generosity is greatly appreciated.
ChrisMoody pipCharlie
No problem...it's great to see new coders. If you take a look at any of my scripts....I try to add in about every feature possible to make people aware of the current capabilities.
FaithonFire pipCharlie
@pipCharlie, Double that!
AngelAnte ChrisMoody
@ChrisMoody, Could you please repost the entire script after your edit please
+2 Antworten
Can you make this multi timeframe? It would be very interesting to see.
+4 Antworten
pipCharlie GoldBowtie
I tried but I'm not much of a programmer so I was unsuccessful. I do have an MTF version for MT4 and it is quite interesting.
+3 Antworten
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender Über Chartmerkmale Preise Einen Freund empfehlen Hausregeln Hilfe Center Webseite & Brokerlösungen Widgets Charting Lösungen Lightweight Charting Library Blog & News Twitter