/* These two forms of the same indicator are designed to act as the Chandelier
Exit stop loss as described by Barbara Rockefeller in 
"Technical Analysis for Dummies", and is written especially for use with
AmiBroker. She describes the Chandelier exit as a dataset of 
"the highest high or the highest close SINCE YOUR ENTRY." To allow the
Chandelier exit to stop you out gives you a couple of 
average-true-ranges (ATRs) from the best price the stock has reached SINCE YOUR
ENTRY.

Only *you* know when your trading rules will dictate that you enter the trade,
and so my Chandelier Exit Preview here allows you to preview 
the Chandelier exit series by clicking on the bar that AmiBroker?s
back-test/optimize says you should buy on. If your RSI says ?buy? on the 
1st of June, simply overlay my Chandelier Exit formula onto your price data,
and click on the bar corresponding to the 1st of June. The three 
series named "Chand..." will change each time you click a different bar. Thus
when you click the 1st of June bar, you get a Chandelier Exit 
stop loss especially designed for buying that stock on the 1st of June. The
second formula, the Chandelier Exit, is designed to fit into your
automated AmiBroker trading formulae.

Why do all this?.... 1) Adaptive trailing stops allow you to crystallize
profits made. 2) The Chanderlier Exit takes into account when you
bought the stock, making it more relevant. 3) This AmiBroker version allows you
to preview when it would stop you out for any bar that your
trading system tells you. 4) It can be fairly easily integrated into your
automated AmiBroker back-tests and optimizations.

How to integrate it into your personal AmiBroker trading system:

Pretend your "buy" formula is simply [MA(Close, 10) > O] and your "sell"
formula is [MA(Close, 10) < 0] for simplicity. Run a window with 
the MA(Close, 10) graph so you can see when it crosses zero, and place another
window with the price, and overlay with the Chandelier Exit
formula you wish to use. If you use Chandelier Exit Preview, simply click on
each day when the MA(Close, 10) crosses zero, and the appropriate
Chandelier exit lines for the highest High and Close, and lowest Low will
appear. The point of the Preview is that you can click on any day
and see how the Chandelier exit would behave :).

As for the second, Chandelier Exit formula, simply copy your "[MA(Close, 10) >
O]" and use it to replace the <your "buy" criterion>. Then 
go to your Sell criterion and add "OR" then copy the appropriate Graph1, Graph2
or Graph3 depending on whether your Chandelier Exit should
use the highest High (Graph1) or Close (Graph2) or lowest Low (Graph3), in the
form of "OR Cross(Graph1, Close)". If you wish to optimize 
the "ATRPeriods" and "Multiple" paramaters, simply replace "Param" with
"Optimize" and run it through the Automatic Analysis.*/


_SECTION_BEGIN("Chandelier Exit Preview");

YourHold = BarIndex() - SelectedValue(BarIndex()); //How many bars between the selected bar AND each bar following

Multiple = Param("Multiple", 3, 1, 10, 1); //How many ATR?s to be allowed below the Highest High since selected bar
ATRPeriods = Param("ATR Periods", 22, 1, 50, 1); //How many periods to use for the ATR
Graph1 = HHV(Close,YourHold) - (Multiple * ATR(ATRPeriods)); //Chandelier exit line from Highest Close
Graph2 = HHV(High, YourHold) - (Multiple * ATR(ATRPeriods)); //Chandelier exit line from Highest High
Graph3 = LLV(Low, YourHold) + (Multiple * ATR(ATRPeriods)); //Chanderlier exit from Lowest Low (used when going Short)
Plot(Graph1, "ChandClose", ParamColor( "ChandClose Color", colorCycle ),
ParamStyle("ChandClose Style")  );
Plot(Graph2, "ChandHigh", ParamColor( "ChandHigh Color", colorCycle ),
ParamStyle("ChandHigh Style")  );
Plot(Graph3, "ChandLow", ParamColor( "ChandLow Color", colorCycle ),
ParamStyle("ChandLow Style")  );

_SECTION_END();

_SECTION_BEGIN("Chandelier Exit");

YourHold = BarIndex() - ValueWhen(EMA(C,25) > C, BarIndex(), 1);//Replace 'EMA(C,25) > C' with your 'buy' formula

Multiple = Param("Multiple", 3, 1, 10, 1); //How many ATR?s to be allowed below the Highest High since latest "buy" bar
ATRPeriods = Param("ATR Periods", 22, 1, 50, 1); //How many periods to use for the ATR
Graph1 = HHV(Close,YourHold) - (Multiple * ATR(ATRPeriods)); //Chandelier exit line from Highest Close
Graph2 = HHV(High, YourHold) - (Multiple * ATR(ATRPeriods)); //Chandelier exit line from Highest High
Graph3 = LLV(Low, YourHold) + (Multiple * ATR(ATRPeriods)); //Chanderlier exit from Lowest Low (used when going Short)
Plot(Graph1, "ChandClose", ParamColor( "ChandClose Color", colorCycle ),
ParamStyle("ChandClose Style")  );
Plot(Graph2, "ChandHigh", ParamColor( "ChandHigh Color", colorCycle ),
ParamStyle("ChandHigh Style")  );
Plot(Graph3, "ChandLow", ParamColor( "ChandLow Color", colorCycle ),
ParamStyle("ChandLow Style")  );

_SECTION_END();

//<Change your by and sell rules here>
Buy = EMA(C,25) > C;
Sell = EMA(C,25) < C OR Cross(Graph1, Close); //Use the appropriate Graph1, Graph2 OR Graph3 for whichever Chandelier exit you wish

Short = Sell;
Cover = Buy;

_SECTION_END();