// Downloaded From https://www.WiseStockTrader.com
_SECTION_BEGIN("Chandelier Exit or Advanced Trailing Stop");
//
//  Chandelier Exit v2 by Geoff Mulhall
//
//  Modified 1-Feb-2003 to take advantage of Ami 2.5 Param Functionality and to
//  allow for Short Trades as well as Long Trades. The Chandelier Exit is a
//  Volatility based exit. Refer to http://www.traderclub.com/discus/board.html
//  Bulletin 35 Trailing Stops - The Chandelier Exit for more detail. Set
//  Scaling to Automatic, Set Gridlines as follows Level 0 On, Show dates On,
//  Middle On Right Click anywhere in the Chart, Select Parameters to get the
//  Param Dialogue and move the slides to see the effect of changing
//  ATRMultiplier ATRRange & HHVRange.
//
//------------------------------------------------------------------------------


/* Chandelier Exit v2 */
/* by Geoff Mulhall */ 
/* Modified 1-Feb-2003 to take advantage of Ami 2.5 Param Functionality */
/* and to allow for Short Trades as well as Long Trades */
/* The Chandelier Exit is a Volatility based exit. */
/* Refer to http://www.traderclub.com/discus/board.html 
/* Bulletin 35 Trailing Stops - The Chandelier Exit for more detail */
/* Set Scaling to Automatic, Set Gridlines as follows Level 0 On, Show dates On, Middle On */
/* Right Click anywhere in the Chart, Select Parameters to get the Param Dialogue and move the slides to */
/* see the effect of changing ATRMultiplier ATRRange & HHVRange */ 
 
/* Plot the Chart */
//Title = "Chandelier"; 
GraphXSpace = 2;
/* Candle chart */ 
Plot(Close,"Close",1,1);
//Plot(WMA(Close,30),"Close WMA30",4,1);
/* Chandelier Exit */
/* Param( "ATRMultiplier", default, Min, Max, step ); */
ShortLongSwitch = Param( "Sht(0) Lng(1)",1,0,1,1); // Set to 0 for a Short Trade, 1 for a Long Trade
HighCloseSwitch = Param( "C(0) H/L(1)",1,0,1,1); // Set to 0 to hang from the close, 1 for High (Long) or Low (Short)
ATRMultiplier =3.0;// Param( "ATR Mult", 3.0, 1, 4, 0.1);
ATRRange =10; // Param( "ATR Rng", 10, 2, 30, 1);
HHVLLVRange =10;// Param( "HHVLLV Rng", 10, 2, 30, 1);
LongExitHungExHigh = HHV(High - AtrMultiplier * ATR(AtrRange),HHVLLVRange);
LongExitHungExClose = HHV(Close - AtrMultiplier * ATR(AtrRange),HHVLLVRange);
ShortExitHungExLow = LLV(Low + AtrMultiplier * ATR(AtrRange),HHVLLVRange);
ShortExitHungExClose = LLV(Close + AtrMultiplier * ATR(AtrRange),HHVLLVRange);
LongExit = IIf(HighCloseSwitch == 1, LongExitHungExHigh,LongExitHungExClose);
ShortExit = IIf(HighCloseSwitch == 1, ShortExitHungExLow,ShortExitHungExClose);
Exit1 = IIf(ShortLongSwitch == 1, LongExit, ShortExit);
Exit0 = shortExit;
Plot(Exit1,"Chandelier Green",colorBrightGreen,styleLine); 
Plot(Exit0,"Chandelier Red",colorRed,styleLine); 
G0 = Close;
G1 = Exit1;
G2 = Exit0;
Buy = Cross(G0,G1); // OR Cross(G0,G2);
//Cover = Cross(G0,G1); // OR Cross(G0,G2);
Sell = Cross(G2,G0); // OR Cross(G1,G0);
//Short = Sell ; //Cross(G2,G0); // OR Cross(G1,G0);
Short=Sell;
Cover=Buy;
Buy=ExRem(Buy,Sell); Sell=ExRem(Sell,Buy); Short=ExRem(Short,Cover); Cover=ExRem(Cover,Short);
Equity(1);
B1 = (Buy * Close);
S1 = (Sell * Close);
B2= B1>S1;
S2= S1>B1;
Equity(1);
Buy1 = Buy;
Sell1 = Sell;
//////////////////////////////////////
//Plot(B1, "B1",5,6);
PlotShapes( IIf( Sell , shapeSmallDownTriangle/*+ "shapePositonAbove"*/, shapeNone ), colorRed );
PlotShapes( IIf( Buy , shapeSmallUpTriangle/*+ "shapePositonAbove"*/, shapeNone ), colorBrightGreen ); 
Plot(10, /* defines the height of the ribbon in percent of pane width */"",IIf( B2, colorBrightGreen, IIf( S2, colorRed, 0 )), /* choose color*/styleOwnScale|styleArea|styleNoLabel, -0.5, 100 );
 
_SECTION_END();