Hercs78 wrote: Tue Sep 12, 2023 6:10 pm =====
Yes, you're right with "pretty close", but this one is not the version I sent you for my request. Sorry that you are too busy to do my conversion, but I will try working my way around it as I have already spent too much time searching for this indicator.
Continued success to you.
Hercs.

mrtools wrote: Wed Sep 13, 2023 12:24 am Wrong, except for the mt5 arrow wingdings problem it would be exact. Did you even take the time to test the indicator?

Hercs78 wrote: Sun Oct 01, 2023 12:48 am ==========
Sorry for the late reply, MrTools, but by now you should know that I have been around the block for many years, and I don't fool around for the sake of putting extra load on coders for assistance. There is no need for anyone to play silly buggers and therefore I can assure you that I tested Mladen's version long before I came here to ask for your help.
No offense meant ever.
Continued success to you.
Hercs.
BTW, I found the exact TredEnvelope I asked for as mq5 and am very happy with it.

mrtools wrote: Thu Oct 27, 2022 1:37 pm From Mladen Rakic:

Developed by Charles Le Beau and featured in Alexander Elder's books, the Chandelier Exit sets a trailing stop-loss based on the Average True Range (ATR). The indicator is designed to keep traders in a trend and prevent an early exit as long as the trend extends. Typically, the Chandelier Exit will be above prices during a downtrend and below prices during an uptrend.



Calculation
The original Chandelier Exit formula consists of three parts: a period high or period low, the Average True Range (ATR) and a multiplier. Using the default setting of 22-periods on a daily chart, the Chandelier Exit will look for the highest high or lowest low of the last 22 days. Note that there are 22 trading days in a month. This parameter (22) will also be used to calculate the Average True Range.

This version is extended with additional (fast) stop - in order to add shorter term entries and exits to the main trend detection and estimation and allows different periods for ATR calculation and highest high and lowest low period (look back period).

Interpretation
The Chandelier Exit is basically a volatility-based system that identifies out-sized price movements. Le Beau defined volatility by using the Average True Range, which was developed by Welles Wilder, creator of RSI and the Average Directional Index. ATR uses the prior close, current high and current low to determine the True Range for a given period. After some smoothing, the daily True Range values evolve into the Average True Range for a given period of time.

nepo1 wrote: Thu Jan 16, 2025 4:13 am Hello.
Can you please add alerts to this indicator?
Thank you!

mrtools wrote: Thu Jan 16, 2025 5:29 am Hello, added alerts.

nepo1 wrote: Wed Jan 22, 2025 10:55 pm Hello.
I removed from the Mladen indicator the the second ATR multiplier. I want to keep the things simple and a clean chart. If it's not to much to ask please add alerts to the indicator.

Thank you!