ChandelierExit





//+------------------------------------------------------------------+
//|                                               ChandelierExit.mq4 |
//|                                                       MQLService |
//|                                           scripts@mqlservice.com |
//+------------------------------------------------------------------+
#property copyright "MQLService"
#property link      "scripts@mqlservice.com"

#property indicator_chart_window
#property indicator_buffers 4
//#property indicator_color1 Blue
//#property indicator_color2 Red
#property indicator_color3 Orange
#property indicator_color4 Magenta
//---- input parameters
extern int       Range=15;
extern int       Shift=1;
extern int       ATRPeriod=14;
extern int       MultipleATR=4;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
int direction=1;
double ATRvalue;
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
int init()
  {
//---- indicators
   //SetIndexStyle(0,DRAW_LINE);
   SetIndexBuffer(0,ExtMapBuffer1);
   //SetIndexStyle(1,DRAW_LINE);
   SetIndexBuffer(1,ExtMapBuffer2);
   SetIndexStyle(2,DRAW_LINE);
   SetIndexBuffer(2,ExtMapBuffer3);
   SetIndexEmptyValue(2,0.0);
   SetIndexStyle(3,DRAW_LINE);
   SetIndexBuffer(3,ExtMapBuffer4);
   SetIndexEmptyValue(3,0.0);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function                       |
//+------------------------------------------------------------------+
int deinit()
  {
//---- 
   
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| Custom indicator iteration function                              |
//+------------------------------------------------------------------+
int start()
  {
   int limit;
   int counted_bars=IndicatorCounted();
   if(counted_bars<0) counted_bars=0;
   if(counted_bars>0) counted_bars--;
   limit=Bars-counted_bars;
   for(int i=limit; i>=0; i--)
      {
         ATRvalue=iATR(NULL,0,ATRPeriod,0)*MultipleATR;
         ExtMapBuffer1[i]=High[Highest(NULL,0,MODE_HIGH,Range,i+Shift)]-ATRvalue;
         ExtMapBuffer2[i]=Low[Lowest(NULL,0,MODE_LOW,Range,i+Shift)]+ATRvalue;
         if(direction==1)
           { 
            if(Close[i+1]<ExtMapBuffer1[i+1])
               {
                  direction=-1;
                  ExtMapBuffer3[i]=ExtMapBuffer2[i];
               }
            else
                  ExtMapBuffer3[i]=ExtMapBuffer1[i];   
           }
         if(direction==-1)
           { 
            if(Close[i+1]>ExtMapBuffer2[i+1])
               {
                  direction=1;
                  ExtMapBuffer4[i]=ExtMapBuffer1[i];
               }
            else
                  ExtMapBuffer4[i]=ExtMapBuffer2[i];   
           }
      }   
   return(0);
  }
//+------------------------------------------------------------------+



Sample





Analysis



Market Information Used:

Series array that contains the highest prices of each bar
Series array that contains the lowest prices of each bar
Series array that contains close prices for each bar


Indicator Curves created:


Implements a curve of type DRAW_LINE

Indicators Used:

Indicator of the average true range


Custom Indicators Used:

Order Management characteristics:

Other Features: