RAD Chandelier

Optuma Forums Optuma Scripting RAD Chandelier

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  • This topic has 2 replies, 2 voices, and was last updated 1 year ago by Evan.
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  • #62819
    Evan
    • Topics: 8
    • Replies: 11
    • Posts: 19

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

    Regards
    Evan

    #62821
    Darren
    • Topics: 71
    • Replies: 880
    • Posts: 951

    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:

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

    Capture

    #62831
    Evan
    • Topics: 8
    • Replies: 11
    • Posts: 19

    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

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