RAD Chandelier

Optuma Scripting
1

Is there a RAD Chandelier in Optuma or a some functions I can use to script one?

Regards
Evan

2

Hi Evan,

If you start typing ‘chandelier’ in the script editor window a pop-up suggests using CHST for a chandelier stop function:
Capture

I’m not sure how this differs from the RAD Chandelier, but the default settings use a 20ATR with a factor of 3, which can easily be changed.

Similar to the Parabolic Stop & Reverse PSAR() function, CHST() has a ‘state’ condition, where 1 is long (ie close is above the chandelier value) and 0 is short. So the following used in a watchlist will give a value of 1 or 0:

CHST(DEFAULT=State)

You can then format the column to display Long or Short by right-clicking on the column heading and selecting Custom Labels:

Capture

3

Hi Darren,

Thanks for the info.
The RAD Chandelier is a bit different. It’s a chandelier stop however it can be configured to transition from say a 3ATR stop to a 4ATR stop once price moves to a particular price point. Its useful in that you can have your initial, breakeven and trailing stop configured in the one tool.
Just thought Optuma might have something like it. Or a way to script it.

Info here…
https://beyondcharts.com/documentation/BC_REF/June2014/Content/6.1%20In%20Pictures.htm