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I´m experimenting with the Chandeler Exit but I only can use it for
long positions.
How can I adapt this formula for SHORT positions??
/* Chandelier Exit */
/* Geoff Mulhall 25-May-2002 */
/* Modified 18-Jan-2003 to take advantage of Ami 2.5 Param
Functionality */
/* The Chandelier Exit is a Volatility based exit. */
/* Refer to http://www.traderclub.com/discus/board.html
/* Bulletin 35 Trailing Stops - The Chandelier Exit for more detail
*/
/* Setting the HighCloseSwitch to 1 hangs the Chandelier Exit from
the High */
/* Setting the HighCloseSwitch to 0 hangs the Chandelier Exit from
the Close */
/* Set Scaling to Automatic, Set Gridlines as follows Level 0 On,
Show dates On, Middle On */
/* Right Click anywhere in the Chart, Select Parameters to get the
Param Dialogue and move the slides to */
/* see the effect of changing ATRMultiplier ATRRange & HHVRange */
/* Plot the Chart */
Title = "Chandelier";
GraphXSpace = 2;
/* Candle chart */
Plot(Close,"",1,64);
Plot(WMA(Close,30),"",4,1);
/* Chandelier Exit */
/* Param( "ATRMultiplier", default, Min, Max, step ); */
HighCloseSwitch = Param( "High/Close Switch",1,0,1,1);
ATRMultiplier = Param( "ATRMultiplier", 3, 1, 4, 0.1);
ATRRange = Param( "ATRRange", 10, 2, 30, 1);
HHVRange = Param( "HHVRange", 10, 2, 30, 1);
ExitHungExHigh = HHV(High - AtrMultiplier * ATR(AtrRange),HHVRange);
ExitHungExClose = HHV(Close - AtrMultiplier * ATR
(AtrRange),HHVRange);
Exit = IIf(HighCloseSwitch == 1, ExitHungExHigh,ExitHungExClose);
Plot(Exit,"Chandelier",colorBlue,styleLine);
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Send SUGGESTIONS to suggest@xxxxxxxxxxxxx
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