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Sunday, 04 December 2022
Forex-Chandelier-Stops-Indicator
Forex-Chandelier-Stops-Indicator

Forex-Chandelier-Stops-Indicator

Watch the testing video here:

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.

 

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