Chandelier Exit Indicator for MT5

In short: the Chandelier Exit indicator for MetaTrader 5 draws a volatility-based trailing stop a multiple of ATR away from the recent high or low, and flips to a buy or sell signal when price crosses it. It helps you stay in a trend while it lasts and exit when volatility says the move is over.

When to use it

• Trailing stops: move your stop with the Chandelier line instead of a fixed number of pips, so it widens when volatility rises and tightens when it calms.
• Trend-following entries: use the flip from one side of the band to the other as a signal to enter in the new direction.
• Volatile markets: gold, indices and crypto, where fixed-distance stops are either too tight or too loose most of the time.

How it differs from a fixed or plain ATR stop

A fixed stop ignores volatility, and a plain ATR stop is usually measured from the entry price. The Chandelier Exit measures from the highest high or lowest low of the lookback period, so it only moves in your favor as the trend extends. The Use Close Price for Extremums option lets you base those extremes on closing prices instead of wicks, which reduces flips caused by single spikes.

Getting started

1. Attach the indicator to an MT5 chart and start with the classic settings: ATR Length 22, ATR Multiplier 3.0.
2. Lower the multiplier for tighter stops on short-term trades; raise it to give swing trades more room.
3. Turn on alerts to be notified on every new signal.
4. Use the tester settings in the Strategy Tester to compare values on your own symbols and timeframes.

For a worked example, read how to trail stops on gold with the Chandelier Exit.

Frequently asked questions

How is the Chandelier Exit calculated?

For a long trade, the stop sits a multiple of ATR below the highest high of the lookback period; for a short trade, the same distance above the lowest low. The ATR Length and ATR Multiplier settings control both.

What settings should I start with?

The classic Chandelier Exit uses a 22-period ATR and a multiplier of 3.0. Use that as a starting point, then test shorter periods or smaller multipliers in the Strategy Tester if you want tighter stops.

Can an Expert Advisor use its signals?

Yes. The indicator generates buy and sell signals that an EA can read, and we can build an EA around it on request.

Is there a free demo?

Yes. You can download a free demo from the MQL5 Market and run it in the MetaTrader 5 Strategy Tester before buying.

Full product description

What does this indicator do?

The Chandelier Exit Indicator for MT5 is a powerful trend-following and volatility-based indicator that uses an ATR band and buy/sell arrows.

• When the price crosses the ATR band, the indicator instantly generates a buy or sell signal.

• This makes it simple for traders to identify trend reversals, capture breakouts, and follow market momentum in any instrument.

Settings of the Indicator

• ATR Length – adjustable period for Average True Range calculation

• ATR Multiplier – controls band distance from price

• Use Close Price for Extremums – refine signals with close-price precision

• Additional Parameters:

  • Tester Settings – for backtesting and strategy optimization

  • Alert Settings – notifications and alerts on every signal

Benefits of this Indicator

• Accurate Reversal Detection – shows potential reversal or continuation zones in trending and ranging markets

• Universal Application – works on all timeframes and trading markets including Forex, Crypto, Stocks, and Commodities

• Boosts Confidence – helps traders enter and exit trades with precision signals

• User-Friendly – suitable for both intermediate and professional traders

• Versatile Tool – can be combined with moving averages, support & resistance, and other technical indicators for stronger trading strategies

Add the Chandelier Exit Indicator for MT5 to your trading arsenal today and improve your trend analysis, entry timing, and risk management.