This strategy plots VWMA-based Bollinger bands on the 1-minute ES futures price chart for volatility analysis and potential breakout identification. It calculates dynamic long and short stop loss and take profit levels using percentage inputs relative to entry
Strategy · Pine Script v6 · On the chart
Chandelier Exit
This strategy calculates Chandelier Exit trailing bands using average true range (ATR) and highest high / lowest low lookback levels.
GitHub stars1on the repository
Pine versionv6current
Lines of code45
Settings3inputs
LicenceApache-2.0
Last update5 days ago23 Oct 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 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
45 lines of Pine Script v6 from validation/ta-chandelier-exit-direction-01/strategy.pine, published under Apache-2.0. Keep the author's credit and licence lines when you reuse it.
// This Pine Script® code is licensed under Apache-2.0
// SPDX-License-Identifier: Apache-2.0
// © PineForge contributors 2026
//
// PF probe 12 — Chandelier-Exit direction tracker
// Purpose: parity test for ta.atr × ta.highest/lowest band + `var int direction`
// stateful flip tracking.
//
//@version=6
strategy("Chandelier Exit", overlay=true, initial_capital=1000000, process_orders_on_close=false, pyramiding=1, commission_type=strategy.commission.percent, commission_value=0, slippage=0, default_qty_type=strategy.fixed, default_qty_value=1)
// === Inputs ===
atrLen = input.int(22, "ATR Length", minval=1)
atrMult = input.float(3.0, "ATR Multiplier", step=0.1)
lookback = input.int(22, "Lookback", minval=1)
// === ATR ===
atrVal = ta.atr(atrLen)
// === Chandelier Exit levels ===
highestHigh = ta.highest(high, lookback)
lowestLow = ta.lowest(low, lookback)
chandLong = highestHigh - atrVal * atrMult
chandShort = lowestLow + atrVal * atrMult
// === Track direction with var ===
var int direction = 0
if close > chandShort[1]
direction := 1
if close < chandLong[1]
direction := -1
// === Entry on direction change ===
longCond = direction == 1 and direction[1] != 1
shortCond = direction == -1 and direction[1] != -1
if longCond
strategy.entry("Long", strategy.long)
if shortCond
strategy.entry("Short", strategy.short)
plot(chandLong, "Chandelier Long", color=color.green, linewidth=2)
plot(chandShort, "Chandelier Short", color=color.red, linewidth=2)
Overview
Chandelier Exit maintains a stateful direction variable that flips bullish when the close crosses above the short band level or bearish when it drops below the long band level. The strategy enters a long position on a bullish flip and a short position on a bearish flip, reversing existing trades directly on the main price chart. Key settings include ATR length, ATR multiplier, and lookback period. The strategy lacks explicit stop loss or take profit exits.
- Chandelier Exit trailing bands
- Stateful direction flip tracking
- ATR-based offset calculation
- Position reversal signal logic
Details
Published by
pineforge-4pass on GitHub
Code credit
PineForge contributors 2026, as written in the script's header
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Trend, Volatility & bands, Support & resistance
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
- The strategy enters trades without a stop loss
Topics
algorithmic-tradingbacktestingparitypine-scriptpinescriptquantitative-financetest-corpustradingview
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| ATR Length | int | 22 | atrLen |
| ATR Multiplier | float | 3.0 | atrMult |
| Lookback | int | 22 | lookback |
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.
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