Can you Help ! Chandelier exit and MT4

Legslapper

Junior member
19 0
Hi I am new to this forum and MT4 platform ( I have a demo copy). All I want to do is allow my trades to exit using the Chandelier /Yoyo method devised by Chuck LeBeau.

I have located an indicator and added it to the platform and appears on the screen but it appears rather basic. I want options that will allow me to vary the ATR, attach the trailing the stop loss to the latest high or low.

I am not sure if having the indicator (I have found) on the graph would actual trigger the stop loss if the trade was live ? OR is there is a process I have to go though to make it live. If anybody has a Chandelier exit that works with the platform I would be very appreciative if I could have a copy.

Any help would be welcome.

John
 

wackypete2

Legendary member
10,229 2,053
OK, you're a bit confused. An indicator cannot exit or enter trades. To do that you need an expert adviser. Indicators only show levels or other information and the trader would manually trade based on that.

Peter
 

Legslapper

Junior member
19 0
OK, you're a bit confused. An indicator cannot exit or enter trades. To do that you need an expert adviser. Indicators only show levels or other information and the trader would manually trade based on that.

Peter

Thanks for that Peter, I just need the Chandelier EA now

Regards, John
 
 
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