OPEN-SOURCE SCRIPT
Chop Zone - SamX
This is my spin on the Chop Zone indicator. It was forked from the built-in TradingView Chop Zone indicator. There were several reasons for this effort...
[u]Note:[/u] If left at default settings, this indicator will exactly match the built-in Chop Zone indicator.
[u]WARNING[/u]: Please be sure you understand the potential impact and implications before adjusting any of the settings in the "Advanced Configuration" section!!!
Chop Zone with discrete/standard coloring:
Chop Zone with gradient fill:
Moving Average angle plot with gradient fill:
- The built-in indicator version had no real configuration options
- It was hard-coded to use the 34-period EMA with fixed span sizes for identifying price range
- There was no real context to the meaning of default color scheme
- The separation points of the chop zone bars was at a fixed 1.43-degree scale
[u]Note:[/u] If left at default settings, this indicator will exactly match the built-in Chop Zone indicator.
[u]WARNING[/u]: Please be sure you understand the potential impact and implications before adjusting any of the settings in the "Advanced Configuration" section!!!
Chop Zone with discrete/standard coloring:
Chop Zone with gradient fill:
Moving Average angle plot with gradient fill:
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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