StockFetcher Forums · General Discussion · Issues with SF's Chandelier exits<< >>Post Follow-up
sbuck143
88 posts
msg #102272
Ignore sbuck143
8/15/2011 10:29:00 AM

Hi Gang -

I've been away for a while as I gravitated to ThinkorSwims incredible web-based charting and scripting package for most of my high end charting needs.........and then the UNTHINKABLE occurred with Ameritrade completing the buyout of ToS and completely replacing ToS's web charts with their own vastly inferior product. :( 550 indicators and custom scripts reduced down to 20. Boooooooooooooooooo!!!!!!!!

Anywho.....I'm back and I've got some questions. My new favorite indicator is really a stop - the chandelier exit. However Stockfetcher's base implementation doesn't make sense to me.

A) I only ever see it under the price movement (i.e. long bias)
B) It moves with the stock price!

The main point behind the Chandelier Exit is that it gets hung from the highest high of the stock (for a long position) and doesn't retreat when the price retreats. When the price hits the stop, you know to get out. That usually signals a reversal in the indicator and starts calculating the Exit on the other side of the price (long to short, or short to long).

Has anybody coded up a filter that accomplishes this?



duke56468
683 posts
msg #102277
Ignore duke56468
modified
8/15/2011 5:34:22 PM

I agree the chandelier exit does not seem to work as designed on SF.
I would prefer the Sylvan Vervoort atr exit but can't figure out how to code it.

Click Here


On freestockcharts.com the Bspan of the ichimoku cloud adjusted to 32 will get you close



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SAFeTRADE
413 posts
msg #102282
Ignore SAFeTRADE
8/15/2011 9:00:42 PM

Fetcher[
set{stop, atr(20) * 2}

set{alpha, relative strength(SPY,20) + relative strength(SPY,63)}


set{hi20, high 20 day high}

set{sstop, hi20 - stop}

draw hi20 on plot price
draw sstop on plot price


dow 30
draw ma(20)

add column alpha
sort column 5 descending
]



guru_trader
485 posts
msg #102435
Ignore guru_trader
8/24/2011 4:59:57 AM

sbuck,
re: " ... as I gravitated to ThinkorSwims incredible web-based charting and scripting package for most of my high end charting needs.........and then the UNTHINKABLE occurred with Ameritrade completing the buyout of ToS and completely replacing ToS's web charts with their own vastly inferior product. :( 550 indicators and custom scripts reduced down to 20 ..."

just download the desktop software ... still has all the indicators, custom scripts & strategies you were used to

StockFetcher Forums · General Discussion · Issues with SF's Chandelier exits<< >>Post Follow-up

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