Chandelier Long Entries
Using Amibroker AFL in combination with Amibroker Data Feeder, traders can create a system for identifying optimal long entry points using the Chandelier indicator. This approach enhances trading strategies by incorporating dynamic stop-loss levels based on market volatility.
_SECTION_BEGIN("Chandelier Long Entries");
factor = Param("Chandelier Factor",3.0,0.0,20.0,0.1);
ATRDAYS = Param("ATR Days",22,5,50,1);
CLEN = High-factor*ATR(ATRDAYS);
Plot( CLEN, "Long Entries("+factor+","+ATRDAYS+")", ParamColor("color", colorCycle ), ParamStyle("Style") );
_SECTION_END();