Author: MQLService
The Chandelier Exit is a trend-following indicator that appears as a colorful cloud on your charts, providing traders with crucial stop levels that extend beyond the bounds of the cloud. This handy tool can help you identify when to exit a position, ensuring you lock in profits while minimizing losses.
Originally coded in MQL4, this indicator first made its debut on the Code Base at mql4.com back on September 27, 2007. Since then, it has become a favorite among traders looking for a reliable exit strategy.
Figure 1. The Chandelier Exit Indicator
Related Posts
- Unlocking MetaCOT 2: Your Ultimate CFTC Indicator Toolkit for MT4
- Mastering the MACD Candle Indicator for MetaTrader 4
- Hourly Buffers for Data Collection in MetaTrader 5: A Simple Guide
- Visualize Current Trends Across All Time Frames with This MetaTrader 4 Indicator
- Unlocking the Power of Master Tools for MetaTrader 4