Chandelier Exit Indicator V2.0 for MT5 A Powerful Tool for EUR/USD Traders

By: Swarnalata

Published on: Apr 02, 2025

Introduction

The Chandelier Exit Indicator V2.0 for MetaTrader 5 (MT5) is a powerful trading tool designed to help traders identify optimal exit points in the market. This upgraded version enhances volatility-based trailing stops, making it ideal for short-term trading on the EUR/USD currency pair (M15 timeframe). With a minimum deposit of just $200, traders can start using this indicator to improve risk management and lock in profits effectively.

In this guide, we’ll explore:
✔ What the Chandelier Exit Indicator is
✔ How Version 2.0 improves upon the original
✔ Best settings for EUR/USD M15 trading
✔ Step-by-step setup in MT5
✔ Proven trading strategies using this indicator

What is the Chandelier Exit Indicator?

The Chandelier Exit is a volatility-based trailing stop indicator developed by Chuck LeBeau. It helps traders:
✅ Stay in trending markets longer
✅ Protect profits with dynamic stop-loss adjustments
✅ Avoid premature exits in volatile conditions

Unlike fixed stop-loss levels, the Chandelier Exit adjusts based on Average True Range (ATR), ensuring stops adapt to market conditions.

Why Use Chandelier Exit V2.0 for MT5?

This upgraded version includes:
Enhanced Smoothing Algorithms – Reduces false signals in choppy markets.
Customizable ATR Multiplier – Adjust sensitivity based on trading style.
Multi-Timeframe Compatibility – Works seamlessly across different charts.
User-Friendly Alerts – Get notified when exit conditions are met.

Perfect for EUR/USD scalping and intraday trading on the 15-minute chart, this indicator helps traders maximize gains while minimizing risk.

Best Settings for EUR/USD (M15 Timeframe)

For optimal performance, use these settings:

ATR Period: 22 (adjusts to EUR/USD volatility)

ATR Multiplier: 3.0 (balances sensitivity and reliability)

Trailing Mode: High/Low (best for trending markets)

Pro Tip: Backtest different multipliers (2.5–3.5) to find the best fit for your strategy.

How to Install the Chandelier Exit V2.0 in MT5

Download the Indicator

Get the file from the official source: Download Here (replace with your link).

Install in MT5

Open MT5 → File → Open Data Folder → MQL5 → Indicators.

Paste the .ex5 file and restart MT5.

Apply to Chart

Drag & drop the indicator onto your EUR/USD M15 chart.

Adjust settings as needed.

Trading Strategy Using Chandelier Exit V2.0

1. Trend-Following Strategy

Entry: Wait for a strong trend (e.g., price above 200 EMA).

Exit: Let the Chandelier Exit trail your stop-loss.

Take Profit: Use a risk-reward ratio of 1:2 or higher.

2. Breakout Strategy

Entry: Enter when price breaks a key level with high volume.

Stop-Loss: Initial stop below recent swing low.

Trailing Stop: Switch to Chandelier Exit once in profit.

3. Scalping Strategy (M15)

Entry: Use with RSI (14) > 50 for longs, < 50 for shorts.

Exit: Let the indicator trail stops tightly to lock in small gains.

Advantages of Using Chandelier Exit V2.0

✔ Reduces Emotional Trading – Automated trailing stops remove guesswork.
✔ Works in All Market Conditions – Adjusts to volatility.
✔ Improves Risk-Reward Ratio – Locks in profits during strong trends.

Conclusion

The Chandelier Exit V2.0 for MT5 is a must-have tool for EUR/USD traders, especially on the M15 timeframe. With its dynamic trailing stops and improved accuracy, it helps traders maximize profits and minimize losses.