Chandelier Flip Stop (cTrader)

What it is

A clean implementation of the Chandelier Exit for cTrader. It builds a dynamic trailing stop anchored to the highest/lowest of the last N bars and offset by ATR × Multiplier. In long regime the stop can only rise; in short regime it can only fall. When price breaks the active stop, the indicator flips direction and emits a signal.

When it signals

• LONG signal (flip to long): price crosses above the short stop.
• • With Use Close for Cross = ON (recommended): candle closes above the short stop.
  • With OFF: an intrabar high above the short stop is enough.
• SHORT signal (flip to short): price crosses below the long stop.
• • ON: candle closes below the long stop.
  • OFF: an intrabar low below the long stop is enough.

Alerts are named for clarity: “Close SHORT (Flip LONG)” and “Close LONG (Flip SHORT)”.

Key parameters

• Length (HH/LL): lookback window for extremes (default 22).
• ATR Period & Multiplier: volatility window and distance (default 22 & 3.0).
• Price Source: Close, HL2, HLC3, OHL4 (used for the cross logic).
• Use Close for Cross: if ON, signal only on candle close; if OFF, can trigger intrabar.
• Mode: Both / LongOnly / ShortOnly.
• Alerts (optional): enable alerts and use Alert Tolerance (pips) to reduce noise near the stop.

Plots

• CE Long (green) / CE Short (red): regime-specific trailing lines.
• Active Stop: single convenience line of the currently active stop.
• Markers: “Close SHORT (Flip LONG)” / “Close LONG (Flip SHORT)” at regime changes.

Typical uses

• Position trailing: map your order’s stop to Active Stop.
• Trend filter: long-only when CE Long is active; short-only when CE Short is active.
• Flip entries: enter on regime flips (consider timeframe/tolerance to reduce whipsaws).