The original Chop Zone indicator by Trading View is good, but has a few limitations which I've addressed in this one
This one has just 3 customizable colors for
Uptrend - default = Turquoise
Downtrend - default = red
Everything else - default = lime
And you can set your own EMA length. The default is 34 as per the original Chop Zone indicator
- Too many colors which confuse and/or overwhelm users like me
- Inability to change the EMA period
This one has just 3 customizable colors for
Uptrend - default = Turquoise
Downtrend - default = red
Everything else - default = lime
And you can set your own EMA length. The default is 34 as per the original Chop Zone indicator
Versionshinweise:
- Added Inputs options for EMA Angle Uptrend and Downtrend - Defaults are 5 & -5. If you change the EMA from default 34 to any other, then the default threshold for Uptrend & downtrend no longer apply. So this is a way to change that.
- For faster EMA's i.e. faster than the default 34, use a higher EMA Angle value as the ema will tend to to rise/fall steeper and vice versa for slower EMA's