Chandelier Exits

["Thomas J. Festa" <festat@xxxxxxxxxxxxx>]

Does anyone have a TS4 version of this code for an indicator and a system?

[Indicator]:

Inputs:
ATRLgth(10),	{ Length of average true range }
ATRSize(3);		{ Number of ATRs to use as the stop interval }

Vars:
ATRStop(0), MAXValue(0);

ATRStop = XAverage(TrueRange, ATRLgth);

If High - ATRStop > MAXValue then MAXValue = HIGH - ATRStop;	{ Raise stop
if needed }
If MAXValue >= Low Then Plot1(MAXValue, "Sell")				{
Plot large dot with no line if stop hit }
Else Plot2(MAXValue, "SellStop");
{ Plot line at Stop Level }

============================================================================
===============================================
[System]:

{ Chuck Le Beau's Chandelier Exit }
 
Inputs:
ATRLgth(10), ATRSize(3),
ExitOpt(1);	{ 0 = X over exit, 1 = Chandelier Exit }

Vars:
ATRStop(0);

ATRStop = XAverage(TrueRange,ATRLgth);
 
If ExitOpt = 1 Then Begin
Sell Next Bar MaxTradeHigh - ATRSize * ATRStop;
Buy to Cover Next Bar  MinTradeLow + ATRSize * ATRStop;
End;


Thomas J. Festa, CMT
Proprietary Trader
Benchmarq Trading, LLC

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