Chandelier Exit (short) Indicator: Formula, Settings and How to Read It
Chandelier Exit (short) suspends the level from the floor rather than the ceiling: it is the lowest low of the lookback window plus a multiple of the Average True Range. The level falls as a decline makes new lows and holds its place through a bounce in the close.
Senzoukria · Indicators · Updated September 2026
Chandelier Exit (short) ships with the Senzoukria desktop app, in the Volatility group of the indicator catalogue. It is drawn on the price chart.
What Chandelier Exit (short) measures
At every bar the study takes the minimum low over the last N bars and adds multiplier × ATR_N, with 22 and 3 as defaults. The lowest low acts as a floor anchor: while the window still holds it, a rally in the close does not raise the level, which is exactly the property a close-following stop lacks. Both components share the same period, as in the original definition. The short side is a separate indicator rather than a second line, since only one direction is held at a time and the unused side would sit on the chart permanently.
The formula, as implemented
This is not a description of how the indicator is usually defined elsewhere — it is what the shipped code computes, documented next to the implementation:
Chandelier Exit (short) — symétrique, suspendu au plancher : exit[i] = min(low, N barres)[i] + mult × ATR_N[i] Mêmes défauts (22, 3), même warm-up, même raison d'être livré à part que les stops ATR : on n'affiche pas le stop du sens qu'on ne porte pas.
How to read it
- The line steps down each time the window records a new low and otherwise stays put — a flat stretch is the study waiting, not missing data.
- If price bounces and the line does not move, the distance between the two is the retracement the current setting tolerates.
- When the offset visibly widens without a new low, the ATR has grown: bars are bigger, and the same distance expressed in points would now be crossed by ordinary movement.
- The level rises when the lowest low rolls out of the window, so a quiet consolidation after a decline lifts the line without any rally at all.
- Plotting it next to the short ATR stop shows what the anchor changes: the ATR stop tracks every close, this one only reacts to new lows and to the ATR.
Parameters and defaults
Period (default 22, range 1 to 200) sets the low window and the ATR at once; shortening it makes the line follow recent lows closely and lifts it faster during consolidation. The multiplier (default 3, range 0.1 to 10) is the offset in ATRs above the low and is the only lever on how much counter-move the level absorbs.
| Parameter | Type | Default | Range |
|---|---|---|---|
| Period | number | 22 | 1 – 200 |
| ATR multiplier | number | 3 | 0.1 – 10 |
What it does not show
Nothing is routed from this line — it is drawn, not traded, and order entry requires the separate, explicitly armed trading path. The level has no knowledge of your entry or exposure. Its anchor is a window extreme, so it moves on a purely mechanical event when the old low expires, which is not a market signal. In a sideways market both the low anchor and the ATR are stable, and the line becomes a flat level with no trailing behaviour left.
Using it in Senzoukria
Add it from the Indicators panel of any footprint chart or candle chart. It runs on futures data from Rithmic or Databento and on crypto pairs from Binance and Bybit, on the same engine — the calculation does not change with the venue, only the data feeding it does. Market data subscriptions are billed by the provider, separately from the app.
Related indicators
- True Range — Volatility
- Std Dev — Volatility
- Squeeze — Volatility
- Chaikin Volatility — Volatility
- Realized Vol — Volatility
- Skewness — Volatility
See the full indicator library, or start with the order flow guide if you are new to reading aggression, delta and absorption.
Frequently asked questions
- Why does the short Chandelier Exit rise when nothing happened?
- The anchor is the lowest low of the last N bars. When the bar holding that low falls out of the window, the anchor becomes the next lowest bar still inside it, which is higher, and the line rises with it. The market does not have to move for this to happen — the window simply rolled forward.
- Can the Chandelier Exit be used on crypto charts?
- Yes, it only needs highs, lows and closes, so it plots on any instrument Senzoukria charts. On crypto symbols it stays an analysis tool, since the application does not route orders on those markets. Exchange market data is billed by the provider, separately from the subscription.
- Should the Chandelier Exit use the same period for the ATR and the low window?
- In the original definition they are the same number, and that is how Senzoukria implements it with a single period parameter defaulting to 22. The reasoning is that the horizon over which you judge the trend and the horizon over which you measure its volatility should match. Splitting them would produce a different indicator.