# Chandelier Exit Indicator for ThinkorSwim

#### Miket

##### Member
Hello- I am looking for a script to the 'Chandelier Exit' (CE)- Does anyone have that script for ThinkorSwim? I also want to optimize the atr_length and atr_mult inputs.

Last edited:
Solution

I am trying to create "chandelier exit" stock scanner. Can anyone help me create this scanner, please? Thanks
Change:
Rich (BB code):
``````def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;``````
To:
Rich (BB code):
``````plot buySignal = direction == 1 and direction == -1;
plot sellSignal = direction == -1 and direction == 1;``````

Then in the scan hacker:
1. Select the study

#### blackbeard12

##### New member
Check this

Code:
``````# Chuck LeBeau's Chandelier Stop
# Mobius
# V01.03.2014

input HighPeriod = 13;
input LowPeriod = 13;
input AtrPeriod = 13;
input AtrMultiplier = 1.00;
input n   = 5;

def o = open;
def h = high;
def l = low;
def c = close;
def MDI = if MDI <= 0
then c + ((c - c) /
(n * (sqr(c / c))))
else MDI + ((c - MDI) /
(n * (sqr(c / MDI))));
def Data = Inertia(MDI, n);
def hh = if c > Data
then Highest(Data, HighPeriod)
else double.nan;
def ll = if c < Data
then Lowest(Data, LowPeriod)
else double.nan;
def ATR = WildersAverage(TrueRange(h, c, l), AtrPeriod);
def AtrScaled = (Atrmultiplier * ATR);
plot H_trigger= if c crosses above hh - AtrScaled
then l
else Double.NaN;
H_trigger.SetPaintingStrategy(PaintingStrategy.Arrow_UP);
H_trigger.SetLineWeight(4);
H_Trigger.SetDefaultColor(Color.Green);
plot L_trigger = if l crosses below ll + AtrScaled
then h
else Double.NaN;
L_trigger.SetPaintingStrategy(PaintingStrategy.Arrow_Down);
L_trigger.SetLineWeight(4);
L_trigger.SetDefaultColor(Color.Red);
# End Code``````

#### john3

##### Active member
2019 Donor
Do you mean this one?

Code:
``````## START STUDY
## Chandelier_Stops
## linus, 2014-07-18, v0.2

#hint: thinkScript adaptation of Chandelier stops.

#hint n: lookback length for highest highs, lowest lows.
input n = 15;

#hint atrLength: Period length of avg. true range.
input atrLength = 5;

#hint atrMult: Multiplier of avg. true range.
input atrMult = 3.0;

#hint atrType: Moving average type of ATR.
input atrType = AverageType.SIMPLE;

#hint shift: Offsets the data this many bars.
input shift = 1;

#hint hideOppositeStop: Set to No to see the inactive stop.
input hideOppositeStop = Yes;

#hint label: Toggles P/L label.
input label = Yes;

#hint bubbles: Toggles P/L bubbles.
input bubbles = Yes;

def atr = MovingAverage(atrType, TrueRange(high, close, low)) * atrMult;

def smax = Lowest(low, n)[shift] + atr[shift];
def smin = Highest(high, n)[shift] - atr[shift];

def dir = compoundValue(1, if close > smax then 1 else if close < smin then -1 else dir, 0);

def rUB = compoundValue(1, if dir > 0 then if smax > rUB then smax else rUB else if dir < 0 then if smax < rUB then smax else rUB else rUB, high);

def rLB = compoundValue(1, if dir < 0 then if smin < rLB then smin else rLB else if dir > 0 then if smin > rLB then smin else rLB else rLB, low);

plot UB = if !hideOppositeStop or dir < 0 then rUB else Double.NaN;
plot LB = if !hideOppositeStop or dir > 0 then rLB else Double.NaN;

UB.SetDefaultColor(Color.MAGENTA);
LB.SetDefaultColor(Color.CYAN);

UB.SetLineWeight(3);
LB.SetLineWeight(3);

def orderDir = dir;

def isOrder = orderDir crosses 0;

def orderCount = compoundValue(1, if isNaN(isOrder) then 0 else if isOrder then orderCount + 1 else orderCount, 0);

def noBar = isNaN(open[-1]);

def orderPrice = if isOrder then if noBar then close else open[-1] else orderPrice;
def profitLoss = if !isOrder or orderCount == 1 then 0 else if orderDir > 0 then orderPrice - orderPrice else if orderDir < 0 then orderPrice - orderPrice else 0;
def profitLossSum = compoundValue(1, if isNaN(isOrder) then 0 else if isOrder then profitLossSum + profitLoss else profitLossSum, 0);

AddLabel(label, orderCount + " orders | P/L " + AsDollars((profitLossSum / tickSize()) * tickValue()), if profitLossSum > 0 then Color.GREEN else if profitLossSum < 0 then Color.RED else Color.GRAY);

AddChartBubble(bubbles and isOrder and orderDir > 0, low, profitLoss, if noBar then Color.LIGHT_GRAY else Color.GREEN, 0);
AddChartBubble(bubbles and isOrder and orderDir < 0, high, profitLoss, if noBar then Color.GRAY else Color.RED, 1);

## END STUDY``````

• Trace Justice and markos

##### Active member
2019 Donor
Hello inside the preference it has an input that says "Shift" what does this do?

#### horserider

##### Well-known member
VIP

Code:
``````#hint shift: Offsets the data this many bars.
input shift = 1;``````

• BenTen

#### Charlie.mp3

##### New member
What does the order count label mean? Where do these orders come from?

#### wtf_dude

##### Active member
It's a pretty simple one. Basically, buy when the line turns blue. Sell or go short when the line turns magenta. The change over is based on the average true range and is basically the exact same as ATRtrailingstop already in TOS.

• chewie76

#### SparkyFlary

##### Member
@john3 It's not accurate. I saw the price go below the band but the the color didn't change. I think I gave it a good shot and came up with one. Somehow these darn volatility trailing stops are hard to find and done right that aren't supertrend, and even that is sometimes done wrong. I found one on tradingview that that looks pretty solid that liked, or atleast the code looks solid I think. I gave it a whirl, can't be worse than what's mostly out there anyway. I then compared it to Wilder's original volatility trailing stop and noticed that the ATR length is much higher on the Chandelier version. I might be wrong but I'll assume this was a mistake because it looks way off when plotted on the chart so I changed it from 22 to a 7 because 22 seems way off. The highest high and lowest low used for the bands can supposedly be changed to just closing price. If you change the ATR length to be the same as the lookback length and the highest and lowest, from high and low, to close and close then it becomes Wilder's volatility stop. Hope yall like it.
Ruby:
``````#Chandelier Volatility Trailing Stop

#SparkyFlary

#Code taken and re-edited to thinkorswim from pipCharlie, who got it from LazyBear

input AtrMult = 3.0;
input ATRlength = 7;
input lookbackLength = 22;
input highestHigh = high;
input lowestLow = low;
input AvgType = AverageType.WILDERS;
input PaintBars = no;

def ATR = MovingAverage(AvgType, TrueRange(high, close, low), ATRlength);
def longstop = Highest(highestHigh,lookbackLength)-AtrMult*atr;
def shortstop = Lowest(lowestLow,lookbackLength)+AtrMult*atr;

def shortvs = if isNaN(shortvs) then shortstop else if close>shortvs then shortstop else min(shortstop,shortvs);
def longvs = if isNaN(longvs) then longstop else if close<longvs then longstop else max(longstop,longvs);

def longswitch= if close>=shortvs and close<shortvs then 1 else 0;
def shortswitch = if close<=longvs and close>longvs then 1 else 0;

def direction = if isNaN(direction) then 0 else if direction<=0 and longswitch then 1 else if direction>=0 and shortswitch then -1 else direction;

def pc = if direction>0 then longvs else shortvs;

plot VolatilityStop = pc;
VolatilityStop.AssignValueColor(if direction < 0 then Color.RED else Color.GREEN);
AssignPriceColor(if PaintBars and direction < 0
then Color.RED
else if PaintBars and direction > 0
then Color.GREEN
else Color.CURRENT);``````

• philchan

#### E_Sophiea

##### New member
Hello- I am looking for a script to the 'Chandelier Exit' (CE)- Does anyone have that script for ThinkorSwim? I also want to optimize the atr_length and atr_mult inputs.
I think people have confused a Chadelier Exit with a Chadelier Stop. They are not the same.

In ThinkorSwim, the Chandelier Exit is already coded and called ATRTrailingStop

#### SirSeff

##### New member
@john3 It's not accurate. I saw the price go below the band but the the color didn't change. I think I gave it a good shot and came up with one. Somehow these darn volatility trailing stops are hard to find and done right that aren't supertrend, and even that is sometimes done wrong. I found one on tradingview that that looks pretty solid that liked, or atleast the code looks solid I think. I gave it a whirl, can't be worse than what's mostly out there anyway. I then compared it to Wilder's original volatility trailing stop and noticed that the ATR length is much higher on the Chandelier version. I might be wrong but I'll assume this was a mistake because it looks way off when plotted on the chart so I changed it from 22 to a 7 because 22 seems way off. The highest high and lowest low used for the bands can supposedly be changed to just closing price. If you change the ATR length to be the same as the lookback length and the highest and lowest, from high and low, to close and close then it becomes Wilder's volatility stop. Hope yall like it.
Ruby:
``````#Chandelier Volatility Trailing Stop

#SparkyFlary

#Code taken and re-edited to thinkorswim from pipCharlie, who got it from LazyBear

input AtrMult = 3.0;
input ATRlength = 7;
input lookbackLength = 22;
input highestHigh = high;
input lowestLow = low;
input AvgType = AverageType.WILDERS;
input PaintBars = no;

def ATR = MovingAverage(AvgType, TrueRange(high, close, low), ATRlength);
def longstop = Highest(highestHigh,lookbackLength)-AtrMult*atr;
def shortstop = Lowest(lowestLow,lookbackLength)+AtrMult*atr;

def shortvs = if isNaN(shortvs) then shortstop else if close>shortvs then shortstop else min(shortstop,shortvs);
def longvs = if isNaN(longvs) then longstop else if close<longvs then longstop else max(longstop,longvs);

def longswitch= if close>=shortvs and close<shortvs then 1 else 0;
def shortswitch = if close<=longvs and close>longvs then 1 else 0;

def direction = if isNaN(direction) then 0 else if direction<=0 and longswitch then 1 else if direction>=0 and shortswitch then -1 else direction;

def pc = if direction>0 then longvs else shortvs;

plot VolatilityStop = pc;
VolatilityStop.AssignValueColor(if direction < 0 then Color.RED else Color.GREEN);
AssignPriceColor(if PaintBars and direction < 0
then Color.RED
else if PaintBars and direction > 0
then Color.GREEN
else Color.CURRENT);``````
Hi, I am at my wit's end..

@SparkyFlary

#### MerryDay

Staff member
Staff
VIP
@SirSeff
Ruby:
``````AddOrder(OrderType.BUY_AUTO, direction > 0);

• SirSeff

#### JP782

##### Active member
Here is a TOS Thinkscript version of "Chandelier Exit" translated from Tradingview.
http://tos.mx/7C9Ahas
Ruby:
``````#Chandelier Exit (Upper Study)
#Version 1.0 Released 04/10/22
#Created by CustomThinkscript

input ATRLength = 22;
input ATRMultiplier = 3;
input ShowLabels = yes;
input UseClose = yes;
input HighlightState = yes;

def atr = ATRMultiplier * ATR(ATRLength);

def longStop = (if UseClose then highest(close, ATRLength) else highest(high, ATRLength)) - atr;
def longStopPrev = if IsNan(LongStop) then longStop else LongStop;
def LS =if close > longStopPrev then max(longStop, longStopPrev) else longStop;

def shortStop = (if UseClose then lowest(close, ATRLength) else lowest(low, ATRLength)) + atr;
def shortStopPrev = if IsNan(shortStop) then shortStop else shortStop;
def SS =if close < shortStopPrev then min(shortStop, shortStopPrev) else shortStop;

def dir = if close > shortStopPrev then 1 else if close < longStopPrev then -1 else dir;
def direction = dir;

plot LongStopPlot = if direction == 1 then LS else double.Nan;
longStopPlot.SetDefaultColor(Color.Green);

plot ShortStopPlot = if direction == -1 then SS else Double.Nan;
shortStopPlot.SetDefaultColor(Color.Red);

def midPricePlot = OHLC4;

def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;

AddChartBubble(sellSignal and ShowLabels, high, "Sell Signal", Color.Red, yes);

AddCloud(if direction == 1 and HighlightState then longStopPlot else Double.Nan, If direction == 1 and HighlightState then midPricePlot else Double.Nan, Color.Green, Color.Green, no);

AddCloud(if direction == -1 and HighlightState then shortStopPlot else Double.Nan, If direction == -1 and HighlightState then midPricePlot else Double.Nan, Color.Red, Color.Red, no);

#### I_Tucci

##### New member
Here is a TOS Thinkscript version of "Chandelier Exit" translated from Tradingview.
http://tos.mx/7C9Ahas
Ruby:
``````#Chandelier Exit (Upper Study)
#Version 1.0 Released 04/10/22
#Created by CustomThinkscript

input ATRLength = 22;
input ATRMultiplier = 3;
input ShowLabels = yes;
input UseClose = yes;
input HighlightState = yes;

def atr = ATRMultiplier * ATR(ATRLength);

def longStop = (if UseClose then highest(close, ATRLength) else highest(high, ATRLength)) - atr;
def longStopPrev = if IsNan(LongStop) then longStop else LongStop;
def LS =if close > longStopPrev then max(longStop, longStopPrev) else longStop;

def shortStop = (if UseClose then lowest(close, ATRLength) else lowest(low, ATRLength)) + atr;
def shortStopPrev = if IsNan(shortStop) then shortStop else shortStop;
def SS =if close < shortStopPrev then min(shortStop, shortStopPrev) else shortStop;

def dir = if close > shortStopPrev then 1 else if close < longStopPrev then -1 else dir;
def direction = dir;

plot LongStopPlot = if direction == 1 then LS else double.Nan;
longStopPlot.SetDefaultColor(Color.Green);

plot ShortStopPlot = if direction == -1 then SS else Double.Nan;
shortStopPlot.SetDefaultColor(Color.Red);

def midPricePlot = OHLC4;

def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;

AddChartBubble(sellSignal and ShowLabels, high, "Sell Signal", Color.Red, yes);

AddCloud(if direction == 1 and HighlightState then longStopPlot else Double.Nan, If direction == 1 and HighlightState then midPricePlot else Double.Nan, Color.Green, Color.Green, no);

AddCloud(if direction == -1 and HighlightState then shortStopPlot else Double.Nan, If direction == -1 and HighlightState then midPricePlot else Double.Nan, Color.Red, Color.Red, no);

Just awesome stuff! Thank you!

#### Nick

##### New member
Thanks for the Chandelier Exit script. In addition to Buy and Sell stops, it provides a view of volatility, trend, and coupled with other indicators, it can assist with trade entries. Thanks again.

• MerryDay

#### Kitchasap

##### Member
VIP
Here is a TOS Thinkscript version of "Chandelier Exit" translated from Tradingview.
http://tos.mx/7C9Ahas
Ruby:
``````#Chandelier Exit (Upper Study)
#Version 1.0 Released 04/10/22
#Created by CustomThinkscript

input ATRLength = 22;
input ATRMultiplier = 3;
input ShowLabels = yes;
input UseClose = yes;
input HighlightState = yes;

def atr = ATRMultiplier * ATR(ATRLength);

def longStop = (if UseClose then highest(close, ATRLength) else highest(high, ATRLength)) - atr;
def longStopPrev = if IsNan(LongStop) then longStop else LongStop;
def LS =if close > longStopPrev then max(longStop, longStopPrev) else longStop;

def shortStop = (if UseClose then lowest(close, ATRLength) else lowest(low, ATRLength)) + atr;
def shortStopPrev = if IsNan(shortStop) then shortStop else shortStop;
def SS =if close < shortStopPrev then min(shortStop, shortStopPrev) else shortStop;

def dir = if close > shortStopPrev then 1 else if close < longStopPrev then -1 else dir;
def direction = dir;

plot LongStopPlot = if direction == 1 then LS else double.Nan;
longStopPlot.SetDefaultColor(Color.Green);

plot ShortStopPlot = if direction == -1 then SS else Double.Nan;
shortStopPlot.SetDefaultColor(Color.Red);

def midPricePlot = OHLC4;

def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;

AddChartBubble(sellSignal and ShowLabels, high, "Sell Signal", Color.Red, yes);

AddCloud(if direction == 1 and HighlightState then longStopPlot else Double.Nan, If direction == 1 and HighlightState then midPricePlot else Double.Nan, Color.Green, Color.Green, no);

AddCloud(if direction == -1 and HighlightState then shortStopPlot else Double.Nan, If direction == -1 and HighlightState then midPricePlot else Double.Nan, Color.Red, Color.Red, no);

Thanks it worked well on ES today

#### Lando7

##### New member
Here is a TOS Thinkscript version of "Chandelier Exit" translated from Tradingview.
http://tos.mx/7C9Ahas
Ruby:
``````#Chandelier Exit (Upper Study)
#Version 1.0 Released 04/10/22
#Created by CustomThinkscript

input ATRLength = 22;
input ATRMultiplier = 3;
input ShowLabels = yes;
input UseClose = yes;
input HighlightState = yes;

def atr = ATRMultiplier * ATR(ATRLength);

def longStop = (if UseClose then highest(close, ATRLength) else highest(high, ATRLength)) - atr;
def longStopPrev = if IsNan(LongStop) then longStop else LongStop;
def LS =if close > longStopPrev then max(longStop, longStopPrev) else longStop;

def shortStop = (if UseClose then lowest(close, ATRLength) else lowest(low, ATRLength)) + atr;
def shortStopPrev = if IsNan(shortStop) then shortStop else shortStop;
def SS =if close < shortStopPrev then min(shortStop, shortStopPrev) else shortStop;

def dir = if close > shortStopPrev then 1 else if close < longStopPrev then -1 else dir;
def direction = dir;

plot LongStopPlot = if direction == 1 then LS else double.Nan;
longStopPlot.SetDefaultColor(Color.Green);

plot ShortStopPlot = if direction == -1 then SS else Double.Nan;
shortStopPlot.SetDefaultColor(Color.Red);

def midPricePlot = OHLC4;

def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;

AddChartBubble(sellSignal and ShowLabels, high, "Sell Signal", Color.Red, yes);

AddCloud(if direction == 1 and HighlightState then longStopPlot else Double.Nan, If direction == 1 and HighlightState then midPricePlot else Double.Nan, Color.Green, Color.Green, no);

AddCloud(if direction == -1 and HighlightState then shortStopPlot else Double.Nan, If direction == -1 and HighlightState then midPricePlot else Double.Nan, Color.Red, Color.Red, no);

Thank you so much!!!

#### sunnybabu

##### Member
Thanks it worked well on ES today
What time frame did you test this? Typically what time frame is recommend when trading Futures?

#### Kitchasap

##### Member
VIP
What time frame did you test this? Typically what time frame is recommend when trading Futures?
I used it for 10 mins for Intraday scalping? But please do retest for yourself in this volatile market.

#### JP782

##### Active member
I used it for 10 mins for Intraday scalping? But please do retest for yourself in this volatile market.
Yes you have to use other indicators to verify direction & entry... the claim by many "pros" to 'just use price action and volume' is bs. Ive literally watched them lose money on trades (if I had the bank to take )I WOULD NOT take, only to be proven right when it tanks and theyre like oh well, thats the name of the game: NO IT IS NOT

#### spartan.ts

##### Member
Here is a TOS Thinkscript version of "Chandelier Exit" translated from Tradingview.
http://tos.mx/7C9Ahas
Ruby:
``````#Chandelier Exit (Upper Study)
#Version 1.0 Released 04/10/22
#Created by CustomThinkscript

input ATRLength = 22;
input ATRMultiplier = 3;
input ShowLabels = yes;
input UseClose = yes;
input HighlightState = yes;

def atr = ATRMultiplier * ATR(ATRLength);

def longStop = (if UseClose then highest(close, ATRLength) else highest(high, ATRLength)) - atr;
def longStopPrev = if IsNan(LongStop) then longStop else LongStop;
def LS =if close > longStopPrev then max(longStop, longStopPrev) else longStop;

def shortStop = (if UseClose then lowest(close, ATRLength) else lowest(low, ATRLength)) + atr;
def shortStopPrev = if IsNan(shortStop) then shortStop else shortStop;
def SS =if close < shortStopPrev then min(shortStop, shortStopPrev) else shortStop;

def dir = if close > shortStopPrev then 1 else if close < longStopPrev then -1 else dir;
def direction = dir;

plot LongStopPlot = if direction == 1 then LS else double.Nan;
longStopPlot.SetDefaultColor(Color.Green);

plot ShortStopPlot = if direction == -1 then SS else Double.Nan;
shortStopPlot.SetDefaultColor(Color.Red);

def midPricePlot = OHLC4;

def buySignal = direction == 1 and direction == -1;
def sellSignal = direction == -1 and direction == 1;

AddChartBubble(sellSignal and ShowLabels, high, "Sell Signal", Color.Red, yes);

AddCloud(if direction == 1 and HighlightState then longStopPlot else Double.Nan, If direction == 1 and HighlightState then midPricePlot else Double.Nan, Color.Green, Color.Green, no);

AddCloud(if direction == -1 and HighlightState then shortStopPlot else Double.Nan, If direction == -1 and HighlightState then midPricePlot else Double.Nan, Color.Red, Color.Red, no);

Hey JP, thanks, however, I tested it against TV version and it's not coming out exact. at least in 1m timeframe.
Also, you'll want to use decimal for atrmult to be more precise. ## The Market Trading Game Changer

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