CE (Chandelier Exit)
The CE (Chandelier Exit) is a volatility-based indicator that identifies exit points for trades. It is designed to keep traders in a trend and prevent an early exit as long as the trend extends. The exit is calculated using the Average True Range (ATR) to measure volatility. For a long position, the exit is placed below the price, and for a short position, it is placed above the price. The distance between the price and the exit is determined by the ATR.
Arguments
| Name | Description |
|---|---|
period | number of periods (integer greater than 0). Default is 22. |
multiplier | ATR factor. Default is 3. |
type | one of long or short |
Useful Signal Expressions
1. Chandelier Exit for Long Position
Signal:
close().crosses_below(ce(22, 3, long))
Explanation: The closing price crosses below the Chandelier Exit for a long position, suggesting a potential exit point for the trade.
2. Chandelier Exit for Short Position
Signal:
close().crosses_above(ce(22, 3, short))
Explanation: The closing price crosses above the Chandelier Exit for a short position, suggesting a potential exit point for the trade.