Chandelier Exit Indicator for MT4 Download - Free [TradingFinder]

On July 20, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The Chandelier Exit indicator was developed by famous trader and analyst Charles Le Beau and calculates the Average True Range (ATR).

The area marked by the indicator is a suitable point to set a stop loss (SL). In addition to determining your stop loss, using this MT4 risk management indicator is also useful for identifying new trends and improving your trading strategy.

Automatic Fibonacci Indicator Specification Sheet

The following table lists some of the options and features related to this indicator:

Pendant Light Exit Indicator Overview

The Chandelier exit indicator sets stop loss levels uptrends below the price and above the price in a downtrend. With the ability to customize the ATR multiplier, traders can adapt this MT4 levels indicator to different trading strategies and use it to optimize their strategies.

Uptrend Condition

The 1-hour Bitcoin (BTC) price chart shows how the Chandelier exit indicator operates within an uptrend.

A chandelier stop sets the stop loss level below the price in an uptrend. This dynamic stop loss adjusts to price fluctuations and moves higher as prices rise.

This indicator uses dynamic stops, allowing traders to protect profits and avoid premature exits.

Downtrend Condition

According to the 4-hour price chart of the EUR/AUD currency pair, the Chandelier exit indicator sets stop-loss levels above the price in a downtrend.

Dynamic stops adjust based on price fluctuations and decreases as price changes. This indicator uses dynamic stops, protecting traders' profits and avoiding premature exits.

Indicator Settings

The settings for the Chandelier Exit indicator are customizable as follows:

• Range: The range is set to 22;
• ATR Period: The period for calculating the average true amplitude (ATR) is set to 22;
• ATR Multiplier: The distance between the stop loss position and the price is 3.0;
• Theme : Indicator Theme.

Conclusion

The Chandelier Exit Indicator is one of the trading tools designed for risk management and determining stop loss levels . This indicator helps prevent exiting trades prematurely and allows traders to stay comfortable in both bullish and bearish trends.