What it does
A volatility-based trailing stop developed by Chuck LeBeau that hangs a stop line a multiple of the Average True Range below the highest high of a lookback period for longs (or above the lowest low for shorts). The default is 22 periods and 3 ATRs. As the trade moves favorably the stop ratchets along, letting profits run while giving the position volatility-adjusted breathing room.
Typedraws on the price chart
How to add it
Click Indicators (ƒx) in the header.
Search “Chandelier Exit” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- In a long trade, exit when price closes below the chandelier line; in a short trade, exit on a close above it.
- Use it purely as an exit and trail mechanism on trend trades rather than as an entry signal.
- The line flipping from below price to above price can also serve as a trend-direction filter for new positions.
- Widen the ATR multiple (for example 3.5 to 4) on volatile symbols to avoid being shaken out of strong trends prematurely.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length | number | 22 | 1–100 |
| ATR length | number | 22 | 1–100 |
| ATR multiplier | number | 3 | 0.1–10 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| Long Exit | line | #26a69a |
| Short Exit | line | #ef5350 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision, price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Double-click any of its lines to jump straight into the settings dialog.
- Save the configured chart as a study template (Indicators menu) to reapply this exact setup elsewhere.
- Right-click the indicator's line for quick actions — settings, visibility and removal without hunting through menus.
Watch out for
- In choppy markets the stop is hit repeatedly, producing a string of small losses before any trend develops.
- The stop trails at a distance, so a sharp reversal can give back a meaningful share of open profit before the exit triggers.