Chandelier Exit Indicator for MT4/MT5 – 100% Free Download

Have you ever closed a trade with a small profit, only to watch the price explode in your direction just five minutes later? It’s the worst feeling in trading. It’s called “leaving money on the table.”

If you’ve been trading for a while, you know that entering a trade is not easy itself, but knowing when to exit is the hardest part. That’s where the Chandelier Exit Indicator comes in. This smart tool for MT4 and MT5 cures Early Exit syndrome. Instead of using a static stop loss that gets hit by random market noise, this indicator uses market volatility to calculate the perfect safe distance for your exit. Whether you are trading Forex, Gold, or Indices, the Chandelier Exit helps you ride the trend until the very end.

Chandelier Exit Indicator Description

The Chandelier Exit is a volatility-based trading tool that uses the Average True Range (ATR) to calculate volatility. When the market is wild and moving fast (like during news events), the indicator line moves further away to give your trade breathing room. When the market is quiet, it tightens up to lock in profits. The result is a clear, stepped line on your chart that shows you exactly where to place your stop loss.

Here’s why it’s a handy tool for your trading arsenal:

• Cures FOMO: It removes the fear of missing out by keeping you in the trade as long as the trend is healthy.
• Adapts to Volatility: It automatically widens your stop loss during high volatility to prevent fake-outs.
• Great for All Assets: It works perfectly on major pairs, but it is especially powerful on volatile assets like Gold (XAUUSD) and Crypto.
• Easy to Read: No complex math to do in your head – just follow the Orange (Buy) and Purple (Sell) lines.

Chandelier Exit Indicator Installation

1. Unzip the file you’ve downloaded.
2. Find the file that is called “ChandelierExit.ex4″/”chandelier-exit-indicator.ex5″ and copy it.
3. Open your MT4/MT5.
4. Go to “File – Open Data Folder – MQL4/MQL5”.
5. Paste the file into the “Indicators” folder in MQL4/MQL5.
6. Restart your MT4/MT5.

After installation, your chart will show a stepped line trailing behind the price candles – Orange for MT4/Blue for MT5 below for uptrends, and Purple for MT4/Red for MT5 above for downtrends:

Basic Trading Signals

It’s crucial to understand that the Chandelier Exit is primarily a Trailing Stop tool, but it is also excellent for spotting trend reversals.

BUY Signal:

The indicator line turns Orange for MT4/Blue for MT5.

SELL Signal:

The indicator line turns Purple for MT4/Red for MT5.

My Conclusion on the Chandelier Exit Indicator

The Chandelier Exit Indicator is a very useful tool that could help remove emotions from trading. It solves the biggest problem that you can face: exiting too early out of fear.

By combining it with your existing strategy, the Chandelier Exit acts as your professional risk manager. It tells you when the trend is over and when to take your profit. With its easy-to-read lines and proven ATR logic, this indicator is a must-have for anyone serious about improving their risk-to-reward ratio and catching big market moves.

P.S. Have problems with installation? Email me at olivermurphy@altraforex.com or support@altraforex.com
I would love to help!

P.P.S. Check out software by Altra Forex Group here