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CHOP

BERLIN Range Index | Bar color versionThe original problem: The choppiness index is great at finding ranging markets, but it is sometimes very slow, which means most of the time it only catches the end of a trend. This indicator tries to solve this. It uses the choppiness index and filters it using a factor that is based on the standard deviation of the ATR. The ATR based filter is calculated by first calculating the running standard deviation of the ATR, and then looking at that in relation to its recent low to find a filtering factor to use on the choppiness index. This makes the choppiness index more reactive to trends, but also slightly more likely to missidentify ranges. This is the bar color version of the indicator. It changes the color of the bars when it it thinks the market is ranging and when it thinks it is trending. Yellow = Trending Transparent gray = Ranging
Pine Script® Indikator
von lejmer
5
Pork ChopApproach for detecting price 'chop'. It's quite simple; instead of trying to detect chop, just measure the weakness of a trend. This is done by essentially taking two moving averages, measuring their relative difference and then take a moving average of this difference of 'n' periods (Lookback) The result can be measured against a threshold 'floor' which determines the weakness of the trend and thus, chop. I use portions from NGBaltic's work: www.tradingview.com so the responsiveness of the detection is slightly higher than bog standard EMAs. Might be of some interest to bot developers, play with the settings! Cheers
Pine Script® Indikator
von trespeng
4
Action Section, Volatility Choppiness Indicator (by ChartArt)Here is a solution to find entry points to trade. This indicator highlights price sections with low choppiness, where both the ADX (Average Directional Index) indicator shows strong movement (up or down!) in the price and a customized Money Flow indicator (which uses only the change of the volume not the change of the price, hence a Volume Flow indicator), also shows volatility is present. Using higher filter values than the default setting of "30" reduces the noise, but also shows less 'action sections'. Vice versa using values lower than "30" increases the amount and duration of action sections which are shown. The "action section" indicator does not show the direction if the price is going up or down. It shows if there is enough action worthy the time to trade (lower odds of a neutral sideways trend). Therefore in addition a Heikin-Ashi based price change indicator can optionally be plotted, which shows the actual direction of the price. Action Section, High Volume Volatility & Low Price Choppiness Indicator This indicator works only on charts which have volume data.
Pine Script® Indikator
von ChartArt
9