Forex-Chandelier-Stops-Indicator
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Chandelier Exit Metatrader 4 Forex Indicator
The Chandelier Exit technical forex indicator for Metatrader 4 is based on the ATR (Average True Range) trading indicator.
It’s a typical stop and reverse signal indicator, a little bit similar to the Parabolic SAR indicator.
It’s a popular short-term trend following MT4 indicator used in many forex systems and trading strategies.
Signals from the Chandelier Exit indicator are quite easy to understand:
A buy signal occurs when the orange Chandelier Exit signal line is aligned underneath the candlesticks in an uptrend.
A sell signal occurs when the magenta Chandelier Exit signal line is aligned above the candlesticks in a downtrend.
For buy trades, set a stop-loss 1- 3 pips below the orange signal line.
For sell trades, set a stop-loss 1- 3 pips above the magenta signal line.
Use the Chandelier Exit forex indicator for scalping, day trading and short-term swing trading.
Free Download
Download the “chandelier-exit.mq4” MT4 indicator
Example Chart
The AUD/USD 1-Hour chart below displays the Chandelier Exit Metatrader 4 Forex indicator in action.
