This mean-reversion strategy plots Bollinger Bands and a long-term moving average directly on the price chart. It enters trades when price candles penetrate the outer Bollinger Bands beyond a user-defined body percentage, anticipating a price reversal. Entries
Strategy · Pine Script v5 · On the chart
Chandelier Exit
This strategy calculates ATR-based Chandelier Exit bands anchored to highest and lowest price extremes, plotting trailing stop levels directly on the price chart.
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code61
Settings6inputs
LicenceNone stated
Last update7 months ago4 Mar 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
Chandelier Exit enters long or short positions when price crosses opposite bands, subject to an optional 200-period EMA trend filter. Position sizing defaults to ten percent of equity. Each trade sets an initial ATR-based stop loss and exits dynamically when the closing price breaches the active Chandelier trailing line. Configurable inputs include ATR settings, calculation price source, and trend filter parameters. There is no predefined take-profit target.
- ATR-based Chandelier trailing stop
- Optional 200 EMA trend filter
- Initial ATR stop loss
- Dynamic trailing exit
Details
Published by
Basant1Saini on GitHub
Type
Strategy, Pine Script v5
Draws
On the price chart
Category
Trend, Volatility & bands, Moving averages
Markets
Stocks
Timeframes
H4 and above
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Period | int | 22 | atrPeriod |
| ATR Multiplier | float | 3.0 | atrMult |
| Use Close for Extremes | bool | true | useClose |
| Trend EMA Length | int | 200 | emaLen |
| Use EMA Trend Filter | bool | false | useTrend |
| Initial SL ATR Mult | float | 1.5 | slAtrMult |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
Similar Pine Scripts
This overlay strategy targets one-minute ES futures and plots volume-weighted moving-average bands from the open, scaled by a standard-deviation multiple, plus a slower band from ten-minute opens. A higher-timeframe exponential moving average can filter trades
STRG-BBForce is a Bollinger Bands trend-following strategy. It calculates standard Bollinger Bands and tracks directional alignment across the upper, lower, and basis lines. When all three lines slope upward, it opens a long position and closes short positions
This trading strategy combines three Exponential Moving Averages (8, 14, and 50 periods by default) with Stochastic RSI and Average True Range (ATR). It enters a long position when EMA 1 is above EMA 2, EMA 2 is above EMA 3, and the Stochastic RSI %K line cros
This strategy generates buy and sell signals based on Bollinger Band crossovers combined with a simple moving average trend filter. It enters a long position when price crosses above the lower band while trading above the SMA filter line, and enters a short po
This overlay strategy combines a Chandelier Exit with a zero-lag least squares moving average. Although the header mentions Heikin Ashi candles, the calculations use ordinary closes. An ATR trailing stop sets long and short levels, and direction flips when pri
Trade Your Charts With a Regulated Broker
Compare brokers that connect to TradingView, with spreads, minimum deposits and leverage side by side.
Compare brokers