Chandelier Exit [UTS]

📈 Chandelier Exit - Trend-following Confirmation and Exit Indicator


💡Overview
A smarter way to trail your stops—Chandelier Exit dynamically adapts to price swings and volatility. This indicator makes trend direction clear at a glance and gives you robust risk management.

• Dynamic Stops – Long stop = Highest High over Range bars minus ATR×Multiplier; Short stop = Lowest Low over Range bars plus ATR×Multiplier.
• Monotonic Adjustment – Stops only trail in the direction of the trend, never against it.
• Single-Event Signals – Marks the exact bar where the trend flips—one signal per event, no noise.
• Trend Fill – The area between the stops is filled: green for bullish, red for bearish.
• Customizable Inputs – Tweak Range, ATR Period, and Multiplier to fit your strategy.
• Non-Repainting – All signals and stops are confirmed at bar close for reliability.


🔍 How to Use
Spot trends, entries, and exits with clarity—Chandelier Exit simplifies your workflow.

• Trend Bias: Green fill signals bullish conditions; red fill signals bearish conditions.
• Entries/Exits: Enter long on ▲, exit or consider shorts on ▼, and vice versa.
• Avoid Noise: Best results in trending markets—avoid in choppy price action.
• Combine Filters: Pair with your favorite filters or oscillators for even better signals.


⚙️ Inputs
Fine-tune the indicator to your trading style with these simple settings.

• Range: Number of bars for Highest High / Lowest Low (default: 7)
• ATR Period: ATR calculation length (default: 9)
• ATR Multiplier: Adjusts stop distance based on volatility (default: 2.5)


📊 Signals
Stay informed at the moment of a real trend shift—no more double-counting or repainting.

• ▲ Green below bar = New long trend detected (plots only once at trend change)
• ▼ Red above bar = New short trend detected (plots only once at trend change)


🔔 Alerts
Create alerts via the “Add Alert” dialog and select the appropriate signal.

• “Long Signal”: Triggered on ▲ (Once Per Bar Close)
• “Short Signal”: Triggered on ▼ (Once Per Bar Close)
• Supports “Once Per Bar Close” to avoid repainting



📝 About
A modern, Pine Script® v6 implementation for today’s traders.

• Script Language: Pine Script v6
• Release Date: 2025-07-09


⚠️ Disclaimer
All trading involves risk. This tool is for educational purposes—always backtest before using live and consult your financial advisor as needed.