Chandelier Exit (chandelier)

Chandelier Exit produces two price levels that measure a pullback from a recent extreme while accounting for volatility. The long level sits below the high of the window, while the short level sits above its low. Their distance from those extremes is based on ATR: it grows when recent movement is wider and contracts when movement is tighter.

length defines the window in which the extremes are found, atr_length sets the horizon of the volatility measure, and multiplier controls the applied distance. The block measures neither trend direction nor trend strength: it only exposes two thresholds for use in expressions and does not close a position itself. Because the extremes are recalculated over a rolling window, these are rolling levels that can move in either direction, not ratcheting stops.

Block declaration#

A strategy can contain multiple [[chandelier]] blocks. Each block produces two numeric series expressed in price units: the long exit level identified by long_id and the short exit level identified by short_id.

The [[chandelier]] block does not have a source parameter because it always uses the candle high, low, and close prices. high and low determine the recent extremes; high, low, and close are used to calculate ATR.

Examples#

Minimal setup#

This block uses the defaults: 22 for length, 22 for atr_length, and 3.0 for multiplier.

[[chandelier]]
long_id  = "chandelier_long"
short_id = "chandelier_short"

Custom fixed setup#

This block finds extremes over 10 candles, calculates ATR over 14 candles, and offsets the extremes by an ATR multiplier of 2.5.

[[chandelier]]
long_id     = "chandelier_long"
short_id    = "chandelier_short"
length      = 10
atr_length  = 14
multiplier  = 2.5

Finding the optimal parameters#

This block explores several extreme windows, ATR lengths, and multipliers. One backtest runs for each combination in the grid.

[[chandelier]]
long_id          = "chandelier_long"
short_id         = "chandelier_short"
length.start     = 10
length.stop      = 30
length.step      = 5
atr_length.start = 10
atr_length.stop  = 30
atr_length.step  = 5
multiplier.start = 1.5
multiplier.stop  = 3.5
multiplier.step  = 0.5

Long and short exit conditions#

This example creates two separate conditions. The first becomes true when the close falls below the long level; the second when the close rises above the short level. The following blocks, represented by ..., determine which action the strategy actually executes.

[[chandelier]]
long_id  = "chandelier_long"
short_id = "chandelier_short"

[[condition]]
id            = "long_exit_signal"
condition     = "close < chandelier_long"
next_block_id = "..."

[[condition]]
id            = "short_exit_signal"
condition     = "close > chandelier_short"
next_block_id = "..."

Dedicated symbol and timeframe#

This Chandelier Exit block uses the daily candles from BINANCE:ETHUSDT. The high, low, and close prices come from this symbol and timeframe, independently of the primary symbol and timeframe defined in [backtest]. See Exchanges, Symbols and Timeframes for alignment rules.

[[chandelier]]
long_id   = "chandelier_long"
short_id  = "chandelier_short"
symbol    = "BINANCE:ETHUSDT"
timeframe = "D"

Parameters#

The source key is not accepted in [[chandelier]]. The indicator always uses the high, low, and close price series from the selected market and timeframe.

Available variables#

The identifiers below are available directly in expressions. The Chandelier Exit block exposes its two price series and, as read-only values on each identifier, its parameters, input sources, symbol, and timeframe.

Assume the block is configured as follows:

[[chandelier]]
long_id  = "chandelier_long"
short_id = "chandelier_short"

Then:

Notes

• Numeric variables support arithmetic, comparisons, and logical operators.
• Text variables are strings intended for equality and inequality checks.