Chandelier Exit
TrendOverlays priceA level hung below the recent high (or above the recent low) by a multiple of the average range.
What it looks like
Drawn by running the real calculation over one sample series. Open a symbol and it is recalculated on that symbol's bars.
How to read it
It follows price up but never steps back down — it holds the level it reached. A bar closing through it marks the point where the run that had been in place broke.
Where it misleads
On a volatile symbol the line sits far away and reacts late.
Default settings
You can change these on the chart. These are the values it starts with.
In SQMATE
One tap to add
Open a symbol, tap the name in the indicator list and it is drawn straight away. You can stack several copies of the same indicator with different settings.
Recalculated per timeframe
Switch between minute, hourly, daily, weekly or monthly bars and it is recalculated on that timeframe. The maths runs over every bar loaded, so zooming never moves the line.
Use it as a search condition
Some indicators can also be used as an axis when searching for symbols — for example, keeping only symbols above a given reading, scanned every night.
Related indicators
- Ichimoku CloudA Japanese system that puts support, resistance, trend and time into one picture with five lines.
- Donchian ChannelsA corridor drawn from the highest high and lowest low of the last N bars.
- Parabolic SARDots placed above or below the bars to mark which way the run is going.
- SupertrendA stair-step line hung a multiple of the average range away from price, with a side.
- Zig ZagA zig-zag line that connects only the swings larger than a set percentage.
- Williams FractalsA marker on every bar that is higher or lower than the few bars on both sides.
Every indicator is an observation computed from past bars. It does not tell you future prices and it is not investment advice.