CHANDELIER EXIT INDICATOR MT5

Chandelier Exit is a volatility based indicator that allows a trader to stay in a trade until a certain trend reversal occurs. As explained below, a trader will be able to avoid an early exit and maximize their profit in pips using the Chandelier Exit indicator.

• The Chandelier Exit indicator helps forex traders to stay in the trendfor as long as possible and avoid premature exits. The indicator uses a volatility based calculation using ATR – Average True Range and provides a reliable trailing stop loss. The indicator also provides the best entry points at the intersection of the indicator and the price.
• Using the ATR – Average True Range Multiplier, traders can further customize the indicator according to different trading instruments. As a result, this MT5 indicator provides all the necessary data for successful trend trading.

How to buy and sell with the Chandelier Exit MT5 indicator?

• The GBPUSD H1 chart above shows the trading signals generated by the Chandelier Exit indicator. The indicator levels provide the best support and resistance levelsas  calculated dynamically according to ATR – Average True Range values. As a result, the breakdown of these levels can be considered by traders as an entry point.

In the chart above, prices break above the Chandelier Exit indicator and cross upwards creating BUY signals. The opposite descending crossover generated SELL signals.

How to identify the best exit levels using the Chandelier Exit Metatrader Indicator?

The above GBPUSD H1 chart shows the Chandelier MT5 exit indicator. The stop loss levels change depending on the ATR values and the ATR multiplier used in the indicator parameters.

The stop loss changes dynamically and helps the forex trader stay in the trend for as long as possible. As a result, the trader can ride the trend until the trend runs out. In fact, a dynamic stop loss acts as a trailing stop loss level to protect an existing trade.

Stop-loss levels appear above the price during a downtrend. Conversely, in an uptrend, the Chandelier exit indicator shows levels below the price.

• The indicator is easy and simple to interpret in terms of entry signals and exit levels. As a result, it is very reliable for beginners and experienced forex traders.

Output:

• The Chandelier Exit indicator is essentially a trailing stop tool. However, it helps the trader identify the trend as well. Since the indicator uses ATR –Average True Range values to calculate exit levels, it provides the trader with the best stop loss levels. Apart from identifying the trend indicator, traders can also use it to follow the trend. Overall, this MT5 indicator provides the best results for any trend trader, allowing you to identify new trends, exploit them, and exit at the best levels.