StockFetcher Forums · General Discussion · Invert indicator?<< >>Post Follow-up
bigsfd
3 posts
msg #135735
Ignore bigsfd
5/3/2017 10:03:31 PM

I was trying to use a Chandelier Exit for a short position instead of long but I don't see a way to invert it (a multiple of ATR for a time period low (short position) vs a multiple of ATR for a time period high (long position)

Any suggestions? Thanks in advance!

four
5,087 posts
msg #135736
Ignore four
modified
5/4/2017 1:56:38 AM

perhaps.. create your own variable

http://simpletradingideas.weebly.com/blog/use-the-chandelier-exit-to-set-your-stop-loss

The Chandelier Exit is usually calculated for 22 trading days which is a month. The calculation is as follows for an uptrend:
Chandelier Exit (long) = 22-day High - ATR(22) x 3
and
Chandelier Exit (short) = 22-day Low + ATR(22) x 3
for a downtrend.

Fetcher[
set{x, low 22 day low} /* 22 day low */
set{z, atr(22) * 3} /* ATR times 3 */
set{ch, x + z} /* Add x and z */
draw ch on plot close
]



bigsfd
3 posts
msg #135741
Ignore bigsfd
5/4/2017 10:32:39 AM

you rock four! I should then be able to use statements like "crosses above ch" to alert to when the stock moves above the line right?

four
5,087 posts
msg #135742
Ignore four
modified
5/4/2017 11:20:40 AM

yes... and do investigate the documentation for examples:

http://www3.stockfetcher.com/download/sfuserguide2_0.pdf

Just keep trying and practicing.

StockFetcher Forums · General Discussion · Invert indicator?<< >>Post Follow-up

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