//+------------------------------------------------------------------+
//|                                           ChandelierStops_v1.mq4 |
//|                                  Copyright © 2006, Forex-TSD.com |
//|                         Written by IgorAD,igorad2003@yahoo.co.uk |   
//|            http://finance.groups.yahoo.com/group/TrendLaboratory |                                      
//+------------------------------------------------------------------+
#property copyright "Copyright © 2006, Forex-TSD.com "
#property link      "http://www.forex-tsd.com/"
//----
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 Blue
#property indicator_color2 Red
//---- input parameters
extern int     Length=15;
extern int     ATRperiod=14;
extern double  Kv=4;
extern int     Shift=1;
//---- indicator buffers
double UpBuffer1[];
double DnBuffer1[];
double smin[];
double smax[];
double trend[];
//+------------------------------------------------------------------+
//| Custom indicator initialization function                         |
//+------------------------------------------------------------------+
  int init()
  {
   string short_name;
//---- indicator line
   SetIndexStyle(0,DRAW_LINE);
   SetIndexStyle(1,DRAW_LINE);
   IndicatorBuffers(5);
   SetIndexBuffer(0,UpBuffer1);
   SetIndexBuffer(1,DnBuffer1);
   SetIndexBuffer(2,smin);
   SetIndexBuffer(3,smax);
   SetIndexBuffer(4,trend);
//---- name for DataWindow and indicator subwindow label
   short_name="ATRStops("+Length+")";
   IndicatorShortName(short_name);
   SetIndexLabel(0,"Up");
   SetIndexLabel(1,"Dn");
//----
   SetIndexDrawBegin(0,Length);
   SetIndexDrawBegin(1,Length);
//----
   return(0);
  }
//+------------------------------------------------------------------+
//| ChandelierStops_v1                                               |
//+------------------------------------------------------------------+
int start()
  {
   int shift,limit, counted_bars=IndicatorCounted();
//----
   if(counted_bars > 0) limit=Bars-counted_bars;
   if(counted_bars < 0) return(0);
   if(counted_bars ==0) limit=Bars-Length-1;
//----
   for(shift=limit;shift>=0;shift--)
     {
      smin[shift]=High[Highest(NULL,0,MODE_HIGH,Length,shift+Shift)] - Kv*iATR(NULL,0,ATRperiod,shift+Shift);
      smax[shift]=Low[Lowest(NULL,0,MODE_LOW,Length,shift+Shift)] + Kv*iATR(NULL,0,ATRperiod,shift+Shift);
      trend[shift]=trend[shift+1];
//----      
      if(Close[shift] > smax[shift+1])trend[shift]= 1;
      if(Close[shift] < smin[shift+1])trend[shift]=-1;
      if(trend[shift] >0)
        {
         if(smin[shift]<smin[shift+1])smin[shift]=smin[shift+1];
         UpBuffer1[shift]=smin[shift];
         DnBuffer1[shift]=EMPTY_VALUE;
        }
      if(trend[shift] <0)
        {
         if(smax[shift]>smax[shift+1])smax[shift]=smax[shift+1];
         UpBuffer1[shift]=EMPTY_VALUE;
         DnBuffer1[shift]=smax[shift];
        }
     }
   return(0);
  }
//+------------------------------------------------------------------+