ChandelExit Higher-Timeframe Trend and Trade Signals
Summary
This document explains a chart indicator that displays signals from ChandelExitSign on a chosen timeframe. A right-pointing arrow represents continuation of the existing trend; a diagonal arrow marks a change and indicates trade direction. Arrow colors distinguish upward and downward signals. The indicator can also play sounds and trigger alerts.
Inputs cover the underlying signal calculation, including symbol, timeframe, range period, shift, ATR period, and ATR multiple; chart display settings such as signal bar, label, colors, size, and position; and alert behavior. The document says multiple instances on one chart need distinct label names and that the companion ChandelExitSign indicator must be installed. It illustrates continuation and trade signals but provides no performance evidence, entry or exit rules, or risk controls. The arrows communicate the other indicator's output; this description alone does not establish that the signals are profitable or explain how ChandelExitSign calculates them.
Key ideas
- A right arrow indicates continuation of the trend at the selected bar.
- A diagonal arrow indicates a change in trend and points toward the trade direction.
- The signal timeframe and underlying ChandelExitSign calculation can be configured.
- Display controls adjust arrow appearance, labels, and chart placement.
- Alerts and audio signals can be configured separately from visual display.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.