What is the Chandelier Exit Indicator for MT4?

The Chandelier Exit Indicator is a technical indicator that helps traders identify when an asset’s price is about to enter or exit a trading range. The indicator uses the relative strength index (RSI) and moving averages to predict future prices.

Chandelier Exit Indicator

Download the Free Chandelier Exit Indicator

How to use the Chandelier Exit Indicator for MT4?

To use the Chandelier Exit Indicator, first set up your trade conditions (buy/sell limit, stop loss, profit target). Next, plot the RSI on top of the chart and add a moving average for stability. Finally, place a buy order below the RSI and sell orders above it. This will help you stay invested in either direction while avoiding too big or small risk-wise trades.

Chandelier Exit Indicator MT4 trading settings

Many new traders struggle with how to get the best forex Chandelier Exit Indicator MT4 trading settings. You’ll want to consider a few factors when setting up your Forex Chandelier Exit Indicator MT4 trading strategy: currency pair, time frame, and indicator type.

Below we’ve detailed each of these points in more detail.

-Currency Pair: You’ll need to decide on a specific currency pair you wish to trade within your chosen timeframe. This will affect the types of indicators you use and the timeframe you select. For example, if you’re dealing EUR/USD within a 1-hour timeframe, then using an hourly chart might be optimal, whereas if sold USD/JPY over six months, then daily charts may be better suited for tracking progress over that long period. (See also our article on choosing forex pair).

-Time Frame: Once you’ve determined which currency pair and timeframe is right for your needs, choose an indicator type! Charts provide insight into current market conditions but don’t always indicate future trends or price movements (for this reason, many traders prefer Fibonacci retracement levels or MACD crossover signals). To find out whether one particular sign will work well in predicting future prices – try testing different timescales during various stretches of the day and night so that selection becomes more accessible based on what’s most essential to success with your strategy. ( See also our article on the best forex Chandelier Exit Indicator MT4 trading settings).

Chandelier Exit Indicator Advantages

Here are some of the advantages of using forex chandeliers as exit indicators:

-Chandeliers are aesthetically pleasing, so they will likely draw attention to the screen when activated. This helps viewers stay focused on what’s happening on the charts and makes it easier to understand complex data visualizations.

-The light fixtures inside forex chandeliers emit infrared radiation, invisible to humans but detectable by electronic devices such as traders’ screensavers or charting software programs. When traders see signals generated from their chandeliers, this indicates that conditions have changed significantly enough for them to take action based on their investment strategy.

Chandelier Exit Indicator Disadvantages

There are a few disadvantages to using an exit indicator for Forex Chandelier trading. First, it can be challenging to determine when the market is about to reach your predetermined level of profit or loss. Second, because the indicator relies on past prices to predict future prices, it may not work as well in unpredictable markets. Finally, if you’re not careful, an exit from the trade too early can lead to losses instead of profits.

If you want to use an exit indicator for Forex Chandelier trading, consider these factors and choose one that works best for your situation.

CE Indicator installation on MT4

To install the Chandelier Exit Indicator on the MetaTrader 4 (MT4) platform, you will need to follow these steps:

  1. Download the Chandelier Exit Indicator file in the “.mq4” format.
  2. Open the MT4 platform and click “File” in the top menu, then select “Open Data Folder.”
  3. Navigate to the “MQL4” folder and then to the “Indicators” folder.
  4. Copy the Chandelier Exit Indicator file into the “Indicators” folder.
  5. Close the MT4 platform and then reopen it.
  6. Click on “Navigator” in the bottom left corner of the MT4 platform and then select “Custom Indicators.”
  7. Locate the Chandelier Exit Indicator in the list, and then drag it onto a chart.

Once you’ve completed these steps, the Chandelier Exit Indicator will be installed and ready to use on your MT4 platform. You can customize the settings and input parameters as per your requirement.

It’s important to note that the chandelier exit indicator is a volatility-based trailing stop-loss indicator; it’s widely used to set stop-loss levels for long positions based on volatility and can be used on any trading instrument.

Chandelier Exit Indicator mt4

Chandelier Exit Indicator mt4 free download


This article explains how to install the Chandelier Exit Indicator on the MetaTrader 4 platform. We also covered some of its key features and parameters.

Author: Dominic Walsh

I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Telegram Channel | Quora | Reddit

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