Technical analysis by jimi0007 about Symbol MKR on 5/15/2023

Chandelier Exit Multi Time Frame //@version=5 indicator('Chandelier Exit', shorttitle='CE MTF', overlay=true,timeframe = "",timeframe_gaps = true) length = input(title='ATR Period', defval=22) mult = input.float(title='ATR Multiplier', step=0.1, defval=3.0) showLabels = input(title='Show Buy/Sell Labels ?', defval=true) useClose = input(title='Use Close Price for Extremums ?', defval=true) highlightState = input(title='Highlight State ?', defval=true) atr = mult * ta.atr(length) longStop = (useClose ? ta.highest(close, length) : ta.highest(length)) - atr longStopPrev = nz(longStop, longStop) longStop := close > longStopPrev ? math.max(longStop, longStopPrev) : longStop shortStop = (useClose ? ta.lowest(close, length) : ta.lowest(length)) + atr shortStopPrev = nz(shortStop, shortStop) shortStop := close < shortStopPrev ? math.min(shortStop, shortStopPrev) : shortStop var int dir = 1 dir := close > shortStopPrev ? 1 : close < longStopPrev ? -1 : dir var color longColor = color.green var color shortColor = color.red longStopPlot = plot(dir == 1 ? longStop : na, title='Long Stop', style=plot.style_linebr, linewidth=2, color=color.new(longColor, 0)) buySignal = dir == 1 and dir == -1 plotshape(buySignal ? longStop : na, title='Long Stop Start', location=location.absolute, style=shape.circle, size=size.tiny, color=color.new(longColor, 0)) plotshape(buySignal and showLabels ? longStop : na, title='Buy Label', text='Buy', location=location.absolute, style=shape.labelup, size=size.tiny, color=color.new(longColor, 0), textcolor=color.new(color.white, 0)) shortStopPlot = plot(dir == 1 ? na : shortStop, title='Short Stop', style=plot.style_linebr, linewidth=2, color=color.new(shortColor, 0)) sellSignal = dir == -1 and dir == 1 plotshape(sellSignal ? shortStop : na, title='Short Stop Start', location=location.absolute, style=shape.circle, size=size.tiny, color=color.new(shortColor, 0)) plotshape(sellSignal and showLabels ? shortStop : na, title='Sell Label', text='Sell', location=location.absolute, style=shape.labeldown, size=size.tiny, color=color.new(shortColor, 0), textcolor=color.new(color.white, 0)) midPricePlot = plot(ohlc4, title='', style=plot.style_circles, linewidth=0, display=display.none, editable=false) longFillColor = highlightState ? dir == 1 ? longColor : na : na shortFillColor = highlightState ? dir == -1 ? shortColor : na : na fill(midPricePlot, longStopPlot, title='Long State Filling', color=color.new(longFillColor,90)) fill(midPricePlot, shortStopPlot, title='Short State Filling', color=color.new(shortFillColor,90)) changeCond = dir != dir alertcondition(changeCond, title='Alert: CE Direction Change', message='Chandelier Exit has changed direction!') alertcondition(buySignal, title='Alert: CE Buy', message='Chandelier Exit Buy!') alertcondition(sellSignal, title='Alert: CE Sell', message='Chandelier Exit Sell!')