Chandelier SX (Strategy)
DisclaimerInput Information
| Name | Type | Default | Description |
| Price | Numeric | High | EasyLanguage price from which a number of average true ranges is subtracted to calculate the stop price. |
| NumATRs | Numeric | 3 | Multiplier of the average true range, subtracted from the high “Price” (input) of the position to determine the stop value. |
| ATRLength | Numeric | 22 | The number of bars to include in the calculation of the average true range. |
| StopPriceCanDecrease | Numeric | 1 | A value of 0 will prevent the stop price from increasing while in a trade. A value of 1 will allow the stop price to increase. |
Usage
Long exit for use with any long position.
Description
This strategy generates a stop order (to exit a short position) at the lowest value of the Price input since the entry of the trade plus NumATRs (Input) times the average true range over the last ATRLength (Input) bars. The stop value can be set to allow the stop price to loosen or not loosen while in a position (see input section). This strategy provides entry bar protection. The stop price for the entry bar is the value of the Price input plus NumATRs times the Average True Range.
Order Name: ChSX, ChSXQ
Related Strategy: Chandelier LX (Strategy)
Related Function(s): AvgTrueRange