Sassiz Chandelier Exit: Free TradingView Strategy (Pine Script)

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

97 lines of Pine Script v5 from sassiz_chandelier_exit_strategy-v1.txt, published under MIT. Keep the author's credit and licence lines when you reuse it.

sassiz_chandelier_exit_strategy-v1.txt

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/

//@version=5
strategy("sassiz chandelier Exit", overlay=true)

// Chandelier Exit script may be freely distributed under the terms of the GPL-3.0 license.


length = input.int(22,title="ATR Period", minval=1)
mult = input.float(3.0,title="ATR Multiplier",step=0.1, minval=0.0)
showLabels = input.bool(true,title="Show Buy/Sell Labels ?")
useClose = input.bool(true,title="Use Close Price for Extremums ?")
highlightState = input.bool(true,title="Highlight State ?")

atr = mult * ta.atr(length)

longStop = (useClose ? ta.highest(close, length) : ta.highest(length)) - atr
longStopPrev = nz(longStop[1], longStop) 
longStop := close[1] > longStopPrev ? math.max(longStop, longStopPrev) : longStop

shortStop = (useClose ? ta.lowest(close, length) : ta.lowest(length)) + atr
shortStopPrev = nz(shortStop[1], shortStop)
shortStop := close[1] < shortStopPrev ? math.min(shortStop, shortStopPrev) : shortStop

var int dir = 1
dir := close > shortStopPrev ? 1 : close < longStopPrev ? -1 : dir

var color longColor = color.new(color.green,80)
var color shortColor = color.new(color.red,80)

longStopPlot = plot(dir == 1 ? longStop : na, title="Long Stop", style=plot.style_linebr, linewidth=2, color=longColor)
buySignal = dir == 1 and dir[1] == -1
//plotshape(buySignal ? longStop : na, title="Long Stop Start", location=location.absolute, style=shape.circle, size=size.tiny, color=longColor, transp=0)
//plotshape(buySignal and showLabels ? longStop : na, title="Buy Label", text="Buy", location=location.absolute, style=shape.labelup, size=size.tiny, color=longColor, textcolor=color.white, transp=0)

shortStopPlot = plot(dir == 1 ? na : shortStop, title="Short Stop", style=plot.style_linebr, linewidth=2, color=shortColor)
sellSignal = dir == -1 and dir[1] == 1
//plotshape(sellSignal ? shortStop : na, title="Short Stop Start", location=location.absolute, style=shape.circle, size=size.tiny, color=shortColor, transp=0)
//plotshape(sellSignal and showLabels ? shortStop : na, title="Sell Label", text="Sell", location=location.absolute, style=shape.labeldown, size=size.tiny, color=shortColor, textcolor=color.white, transp=0)

midPricePlot = plot(ohlc4, title="", style=plot.style_circles, linewidth=0, display=display.none, editable=false)

longFillColor = highlightState ? (dir == 1 ? longColor : na) : na
shortFillColor = highlightState ? (dir == -1 ? shortColor : na) : na
fill(midPricePlot, longStopPlot, title="Long State Filling", color=longFillColor)
fill(midPricePlot, shortStopPlot, title="Short State Filling", color=shortFillColor)

changeCond = dir != dir[1]



// alertcondition(changeCond, title="Alert: CE Direction Change", message="Chandelier Exit has changed direction!")
// alertcondition(buySignal, title="Alert: CE Buy", message="Chandelier Exit Buy!")
// alertcondition(sellSignal, title="Alert: CE Sell", message="Chandelier Exit Sell!")

//add by sassiz
slLong = input.float(0.985,title="sl Long",step=0.01)
tpLong = input.float(1.03,title="tp long",step=0.01)
slShort = input.float(1.015,title="sl short",step=0.01)
tpShort = input.float(0.97,title="tp short",step=0.01)

// plotshape(PK_X_PD_Long,title="Signal Long",style=shape.triangleup,color=color.green,location=location.bottom,size=size.small)
// plotshape(PK_X_PD_Short,title="Signal Short",style=shape.triangledown,color=color.red,location=location.top,size=size.small)

FromMonth = input.int(defval = 4, title = "From Month", minval = 1, maxval = 12)
FromDay   = input.int(defval = 25, title = "From Day", minval = 1, maxval = 31)
FromYear  = input.int(defval = 2022, title = "From Year", minval = 2010)
ToMonth   = input.int(defval = 5, title = "To Month", minval = 1, maxval = 12)
ToDay     = input.int(defval = 5, title = "To Day", minval = 1, maxval = 31)
ToYear    = input.int(defval = 2022, title = "To Year", minval = 999)
start     = timestamp(FromYear, FromMonth, FromDay, 00, 00)  
finish    = timestamp(ToYear, ToMonth, ToDay, 23, 59)       
window()  => time >= start and time <= finish ? true : false
bgcolor(color=window()?color.new(color.blue,95):na)


if(window())
    //strategy long
    strategy.entry('buy',strategy.long,when=buySignal)// and strategy.position_size == 0)
    strategy.exit('buy',limit = strategy.position_avg_price * tpLong,stop=strategy.position_avg_price * tpLong)//,trail_price=longStopPrev)
    //strategy.exit('buy',limit = strategy.position_avg_price * tpLong,stop=longStop>strategy.position_avg_price * slLong?(longStop-(longStop*0.2/100)):strategy.position_avg_price * slLong)
    //strategy short
    strategy.entry('short',strategy.short,when=sellSignal)// and strategy.position_size == 0)
    strategy.exit('short',limit = strategy.position_avg_price * tpShort,stop=strategy.position_avg_price * slShort)
    //strategy.exit('short',limit = strategy.position_avg_price * tpShort,stop=shortStop<strategy.position_avg_price * slShort?shortStop:strategy.position_avg_price * slShort)
    

//alertcondition(PK_X_PD_Short or PK_X_PD_Long, "SStochEma Signal Alert",  "Go Trade with SStochEma Signal")

//setup trade takeprofit and stoploss
inTrade = strategy.position_size //if <0 trade position is short and if >0 trade postion is long and if = 0 no postion 
//for sell and buy
entery = plot(inTrade<0 ? strategy.position_avg_price :strategy.position_avg_price,color=color.purple,style=plot.style_circles,title="enteryShort",trackprice=true)
profit = plot(inTrade<0 ? strategy.position_avg_price * tpShort:strategy.position_avg_price * tpLong,color=color.green,style=plot.style_circles,title="profitShort",trackprice=true)
stop = plot(inTrade<0 ? strategy.position_avg_price * slShort:strategy.position_avg_price * slLong,color=color.orange,style=plot.style_circles,title="stopShort",trackprice=true)
fill(entery,profit,color= color.new(color.green,65))
fill(entery,stop,color= color.new(color.red,65))

Overview

Sassiz Chandelier Exit defines a long stop as the highest close minus ATR times multiplier and a short stop as the lowest close plus ATR times multiplier. The script dynamically updates these stops when price crosses previous levels and tracks trend direction changes. It plots the long and short stops, fills the area between the mid-price and stops according to current direction, and generates buy/sell signals on direction switches. Main settings control ATR period, multiplier, label visibility, close usage for extrema, state highlighting, and custom SL/TP multipliers. All elements draw directly on the price chart.

Chandelier Exit
ATR Trailing Stops
Direction Change Signals
Long Short Stops Plot
Direction State Fill

Details

Published by

sassiz-root on GitHub

Type

Strategy, Pine Script v5

Draws

On the price chart

Markets

Crypto

Timeframes

Any timeframe

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.

File

sassiz_chandelier_exit_strategy-v1.txt

Repository

github.com/sassiz-root/Pine_Script. See its other scripts in the library

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`	`length`
ATR Multiplier	`float`	`3.0`	`mult`
Show Buy/Sell Labels ?	`bool`	`true`	`showLabels`
Use Close Price for Extremums ?	`bool`	`true`	`useClose`
Highlight State ?	`bool`	`true`	`highlightState`
sl Long	`float`	`0.985`	`slLong`
tp long	`float`	`1.03`	`tpLong`
sl short	`float`	`1.015`	`slShort`
tp short	`float`	`0.97`	`tpShort`
From Month	`int`	`4`	`FromMonth`
From Day	`int`	`25`	`FromDay`
From Year	`int`	`2022`	`FromYear`

Show all 15 settings

Setting	Type	Default	Variable
To Month	`int`	`5`	`ToMonth`
To Day	`int`	`5`	`ToDay`
To Year	`int`	`2022`	`ToYear`

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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