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# ChandelierStop

### Syntax

```
public static double ChandelierStop(this Position p, Bars bars, int bar, int period, double coefficient )public double ChandelierStop(Bars bars, int bar, Position p, int period, double coefficient )
```

### Parameter Description

 p Position to apply Chandelier stop to period TR period for Chandelier stop calculation coefficient ATR factor for Chandelier stop calculation bars Bars object bar Bar number

### Description

The Chandelier Stop is a trailing stop that is based on the volatility of the market. It has been successfully used and recommended by a number of traders, including Chuck LeBeau, for trend-following systems.

This study implements following definition:

"The Chandelier Exit hangs a trailing stop from the highest high of the trade ... The distance from the high point to the trailing stop is measured in units of Average True Range".

### Example

 Chandelier Stop demonstration

Below is a sample Strategy that uses the procedure.

Example using C# extension methods:

```
using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;namespace WealthLab.Strategies
{
public class ChandelierDemo : WealthScript
{
protected override void Execute()
{
// Variable that will hold Chandelier stop value
double chandelierStop = 0.0;

PlotStops(); 	// Ensure Chandelier stop visibility

for(int bar = Bars.FirstActualBar + 10; bar < Bars.Count; bar++)
{
if (IsLastPositionActive)
{
// Let's work directly with the list of active positions, introduced in WL5
for( int p = ActivePositions.Count - 1; p > -1 ; p-- )
{
Position pos = ActivePositions[p];

// Request Chandelier stop value using Period: 14, Coefficient: 3
chandelierStop = pos.ChandelierStop( Bars, bar, 14, 3 );						if( pos.PositionType == PositionType.Long )
SellAtTrailingStop( bar + 1, pos, chandelierStop, "Chandelier LX");
else
if( pos.PositionType == PositionType.Short )
CoverAtTrailingStop( bar + 1, pos, chandelierStop, "Chandelier SX");
}
}
else
{
if( DIPlus.Series( Bars, 10 )[bar] > 1.5 * DIMinus.Series( Bars, 10 )[bar] )
if( Low[bar] <= KeltnerLower.Series( Bars, 10, 10)[bar] )
BuyAtMarket( bar + 1 );
if( DIMinus.Series( Bars, 10 )[bar] > 1.5 * DIPlus.Series( Bars, 10 )[bar] )
if( High[bar] >= KeltnerUpper.Series( Bars, 10, 10)[bar] )
ShortAtMarket( bar + 1 );
}
}
}
}
}
```

Legacy syntax example:

Make sure to complete the following checklist when implementing Chandelier stops in your own Strategy:

1. Permit the use of Community.Components - the namespace that holds the ChandelierStop function:
• using Community.Components;
2. Create an instance of the class that returns Chandelier stop value, passing an instance of the WealthScript class
• SeriesHelper obj = new SeriesHelper( this );
3. Create a variable that will hold your Chandelier stop
• double chandelierStop = 0.0;
4. In Position loop, call the ChandelierStop function to obtain the stop value
• chandelierStop = obj.ChandelierStop( Bars, bar, pos, 14, 3 );
5. Outside of the main loop, call PlotStops to visualize your stop order levels
• PlotStops();

```
using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;
using Community.Components; 	// includes Chandelier Stop
/*** Requires installation of Community.Components Extension from www.wealth-lab.com > Extensions ***/namespace WealthLab.Strategies
{
public class ChandelierDemo : WealthScript
{
protected override void Execute()
{
// Create an instance of the class that returns Chandelier stop value
SeriesHelper obj = new SeriesHelper( this );
// Variable that will hold Chandelier stop value
double chandelierStop = 0.0;

PlotStops(); 	// Ensure Chandelier stop visibility

for(int bar = Bars.FirstActualBar + 10; bar < Bars.Count; bar++)
{
if (IsLastPositionActive)
{
// Let's work directly with the list of active positions, introduced in WL5
for( int p = ActivePositions.Count - 1; p > -1 ; p-- )
{
Position pos = ActivePositions[p];

// Request Chandelier stop value using Period: 14, Coefficient: 3
chandelierStop = obj.ChandelierStop( Bars, bar, pos, 14, 3 );						if( pos.PositionType == PositionType.Long )
SellAtTrailingStop( bar + 1, pos, chandelierStop, "Chandelier LX");
else
if( pos.PositionType == PositionType.Short )
CoverAtTrailingStop( bar + 1, pos, chandelierStop, "Chandelier SX");
}
}
else
{
if( DIPlus.Series( Bars, 10 )[bar] > 1.5 * DIMinus.Series( Bars, 10 )[bar] )
if( Low[bar] <= KeltnerLower.Series( Bars, 10, 10)[bar] )
BuyAtMarket( bar + 1 );
if( DIMinus.Series( Bars, 10 )[bar] > 1.5 * DIPlus.Series( Bars, 10 )[bar] )
if( High[bar] >= KeltnerUpper.Series( Bars, 10, 10)[bar] )
ShortAtMarket( bar + 1 );
}
}
}
}
}
```
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