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<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000>Hi,</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>There has been soem
discussion on an Australian tech analysis forum about a formula for an ATR
Chandelier stop. Essentially Tharp and Le Beau give this exit a big
wrap.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>Someone (Randy aka
yankeetrader) on the forum has a function for a chandelier stop/exit as
follows:</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000>atrperiods:=Input("Enter ATR
periods",1,39,18);<BR>multiplier:=Input("Enter ATR
multiplier",1,10,3);<BR>(HIGH-ATR(atrperiods)*multiplier)</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>This is OK but as
the highs are used to "hang" the Chandelier as the highs fall then the line
drawn using the formula also fall. As we never move our stops down in a
long trade, we must always remember that the highest Chandelier stop is our
stop. The way around this is to do one of two things - both which have me
stumped.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>1. Only plot the
Chandelier stop from the entry date. Thus the above formula should prompt
for a date and the line should be plotted from that date with the Stop
calculated as exit at the highest high since entry minus 3
ATR's.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>I have used a
variety of dayofmonth(), month() year() functions to no avail. Also it
appears that a line like this cannot be plotted from a particular
date.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>2. Plot the
Chandelier Stop after prompting for the entry with the Stop calculated as exit
at the highest high since entry minus 3 ATR's. Thus, the stop line would
never be lowered.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>Can the bar of the
entry date be painted another color automatically after
prompting?</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>Any help would be
greatly appreciated.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000>Andrew</SPAN></FONT></DIV>
<DIV> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=310493712-01022000>PS: A chart base on
a template Randy posted is shown to demonstrate how the Chandelier stop moves up
and down.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=310493712-01022000></SPAN></FONT> </DIV>
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