ATR, Chop, Profit Target and Stop Loss TableThe ATR Table indicator is a versatile tool that helps traders visually and quantitatively manage risk, identify market conditions, and set profit targets and stop-loss levels. It is designed to enhance decision-making by incorporating key volatility and chop (market consolidation) signals into a comprehensive table format.
Key Features:
Average True Range (ATR) Calculation : The indicator computes the ATR over a user-defined period (default 14). ATR helps to measure market volatility, providing insights into how much an asset's price typically moves within a given period.
Stop Loss and Profit Target Calculation : You can configure stop-loss and profit target levels using multipliers based on the ATR. This allows dynamic risk management that adjusts to market volatility:
Stop Loss : Defined as a multiple of the ATR to help control losses.
Profit Target : Also based on a multiple of the ATR to lock in gains. The user can specify whether they are trading long or short, and the indicator adjusts the levels accordingly.
Customizable Plot Lines : The indicator can display the Stop Loss and Profit Target levels directly on the chart. Users can toggle these lines on or off and customize their colors.
Chop Signa l: The indicator highlights potential consolidation periods (chop) using a wick-based analysis. It calculates the highest upper or lower wick values and compares them to the ATR to detect periods of indecision or consolidation.
Table Display : When these wick values exceed the ATR by a user-defined multiplier, the corresponding table rows are highlighted.
Background Alerts : Optionally, users can activate background color changes on the chart to visually alert them when chop conditions are detected.
Customizable Table Layout : A table displaying the key values (ATR, Stop Loss, Profit Target, Upper/Lower Wickiness) is placed on the chart. You can choose the table's position, adjust its color scheme, and decide which rows to display.
Chop Background Customization : For users who prefer more visual cues, the indicator allows you to enable or disable background shading when chop conditions are met. You can also choose the color of this background for better customization.
CHOP
Session LiquidityDescribes if markets are liquid enough for institutions to manipulate. Its often difficult to determine if markets will trend or chop, but by looking at how much volume we have at the open, we can determine of the session will be choppy or trendy, and take trades based on that.
Settings predefined for 1m timeframe on SPY. May work with other tickers, but I have not tested it out yet.
Designed for stocks(as of now, may update later)
Blockunity Regime Monitoring (BRM)Efficiently analyze market conditions and detect overheating zones.
Regime Monitoring (BRM) is here to help you analyze the behavior of financial markets. The oscillator allows you to observe when an asset’s trend is likely to reverse. The trend is also given by the indicator, as is the phase the market is in (trending or congested). The BRM also provides the state of the Choppiness Index, indicating whether or not the asset is about to enter a more volatile phase.
The Idea
The goal is to provide the community with a comprehensive tool for tracking market conditions, with a visual approach to identifying overheating zones.
How to Use
This tool consists of 3 main components:
An oscillator, which we describe in detail below.
Bar color to transcribe oscillator information directly onto the graph. To activate Bar Color, make sure the first option is checked in the settings. You must also uncheck "Borders" and "Wick" in your Chart Settings.
A panel that summarizes the status of various indicator information.
Elements
The Regime Monitoring oscillator
The oscillator provides several information points. First, it gives the market trend of the asset:
Green: Bullish trend.
Red: Bearish trend.
Blue: Contested trend.
It then indicates areas of overheating, where it is considered statistically probable that we will see a change in trend dynamics. These moments are shown in yellow.
This market trend is also indicated in the table.
If you see that the oscillator is above or below these limits, but not yellow, this is because we use a Choppiness Index to filter this information.
The "Enable Choppiness Index Filter" is enabled by default in the settings. So, if the Chop is discharged (under 38.2), then the oscillator's overheating state is ignored.
You can see the difference in the images below, the first with the filter and the other without:
Market Phase
We use a Vertical Horizontal Filter (VHF) to define the market phase the asset is in. This phase can have two values:
Trending: Assets evolve within a trend.
Congestion: The asset is in a moment of congestion.
Chop State
Visualize the Choppiness Index, indicating whether an asset is gearing up to enter a phase of increased volatility. It can be:
Charged: Chop is considered to indicate to be entering a stable phase.
Neutral: Chop is neutral and does not provide any specific information.
Discharged: Chop is considered to indicate a continuation of the trend.
In addition, with the "Show Choppiness Index" option, you can plot the Chop on the oscillator:
Other Settings
You can also modify the standard Regime Monitoring parameters (Lookback, Smoothing, Limits), display or hide certain components, and change all the colors.
How it Works
Regime Monitoring's main oscillator is established as follows:
We calculate the percentage of times the closing price was higher than the opening price. This is then divided by a lookback period, which in this case defaults to 20. This calculation gives a probability of the current regime.
MultiTimeFrame Choppiness IndexThe Choppiness Index (CHOP) is an oscillator (range 0-100) designed to determine if the market is choppy (trading sideways, value is going up) or not choppy (trading within a trend, value is going down). In case of trend moves it do not determine trend direction (other indicators are needed to predict trend direction). Some see it as fuel for the upcoming movement.
This implementation shows the graph for 4 different time frames simultaneously. Time frames are selected in settings. The default set: 1h, 4h, 1D, 1W.
For each time frame we can show/hide chart line, pick timeframe, assigned a color and line width.
Troubleshooting:
In case od any problems, please send error details to the author of the script.
Chop and Trend Index (CTI)The Chop and Trend Index (CTI) is a unique indicator that provides a different perspective on market conditions compared to traditional oscillators. It is designed to identify periods of market chop and strong trends, and it does so by combining two key components: the number of halfback taps and the strength of the trend.
The CTI is calculated by first determining the number of halfback taps over a user-defined length of time. A halfback tap occurs when the high or low of a bar reaches the midpoint (halfback level) of the previous bar. This is a measure of market chop: the more halfback taps, the choppier the market. The fewer halfback taps, the stronger the trend.
The strength of the trend is determined using the Average Directional Index (ADX), a popular trend strength indicator. The ADX is calculated based on the directional movement of the market, with higher values indicating stronger trends.
The CTI combines these two components by multiplying the normalized number of halfback taps by the ADX value. This results in an indicator that rises during strong trends with few halfback taps (either up or down) and falls during periods of market chop.
The CTI is not a directional indicator. Unlike the Relative Strength Index (RSI) or other oscillators, high values do not indicate overbought conditions, and low values do not indicate oversold conditions. Instead, high values indicate a strong trend (and possibly trend exhaustion), while low values indicate strong chop (and possibly an impending breakout in either direction).
The CTI can be used on any market and any timeframe, but it may be particularly useful on longer timeframes where periods of chop and trend are more pronounced.
The CTI includes several user inputs :
Length : This determines the number of bars over which the number of halfback taps is calculated. Increasing this value will make the CTI less sensitive to recent market conditions, while decreasing it will make the CTI more sensitive.
Normalization Window Length : This determines the number of bars over which the CTI is normalized. The CTI is normalized to a scale of 0 to 100 to make it easier to compare across different markets and timeframes.
Chop Threshold : This is the CTI value below which an alert will be triggered indicating a period of severe chop. This could signal an impending breakout and potential upcoming volatility.
Trend Exhaustion Threshold : This is the CTI value above which an alert will be triggered indicating potential trend exhaustion. This could signal a possible mean reversion.
The CTI also includes four colored threshold lines at 10, 25, 75, and 90. These thresholds can be used as a guide to identify periods of chop and trend. For example, CTI values below 10 or above 90 could indicate extreme conditions.
The CTI provides two alert conditions :
Low Threshold Crossed : This alert is triggered when the CTI falls below the user-defined Chop Threshold. This could signal a period of severe chop and the potential for upcoming volatility.
High Threshold Crossed : This alert is triggered when the CTI rises above the user-defined Trend Exhaustion Threshold. This could signal potential trend exhaustion and the possibility of mean reversion.
In conclusion, the CTI is a unique and versatile indicator that can provide valuable insights into market conditions. By identifying periods of chop and trend, it can help traders anticipate potential breakouts and reversals, and adjust their strategies accordingly.
Simple Chop ZoneThe original Chop Zone indicator by Trading View is good, but has a few limitations which I've addressed in this one
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
Local Model Kalman Market ModeIntroduction
Heyo guys, I made a new (repainting) indicator called Local Model Kalman Market Mode.
I created it, because I wanted a reliable market mode filter for a potential mean-reversion strategy (e. g. BB Scalping).
On the screenshot you can see an example of how to use it in a BB strategy.
E.g. you would enter long when you have bullish divergence, price is under lower BB, price is under PoC and this indicator here shows range-bound market phase.
You would exit long on cross of the middle band.
Description
The indicator attempts to model the underlying market using different local models (i.e., trending, range-bound, and choppy) and combines them using the T3 Six Pole Kalman Filter to generate an overall estimate of the market.
The Fisher Transform is applied on the price to reach a Gaussian distribution, which increases the accuracy of the indicator itself.
The script first defines state variables for each local model, which include trend direction, trend strength, upper and lower bounds of the range, volatility of the range, level of choppiness, and strength of noise.
Then, likelihood functions are defined for each local model based on the state variables.
Next, the script calculates weights for each local model based on their likelihoods and uses them to calculate state variables for the overall estimate.
Finally, the script combines the state variables using the T3 Six Pole Kalman Filter to generate the overall estimate of the market, which is plotted in blue.
Fundamental Knowledge
To understand the explanation of the indicator and the script, there are a few fundamental concepts that you need to know:
Market: A market is a place where buyers and sellers come together to exchange goods or services.
In the context of trading, the market refers to the exchange where financial instruments such as stocks, currencies, and commodities are bought and sold.
Local models: Local models are statistical models that attempt to capture the characteristics of a particular market regime.
For example, a trending market may have different characteristics than a range-bound market or a choppy market.
The indicator uses different local models to capture the different market regimes.
Trend direction and strength: The trend direction refers to the direction in which the market is moving, either up or down.
The trend strength refers to the magnitude of the trend and how likely it is to continue.
Range-bound market: A range-bound market is a market where prices are trading within a specific range, with a clear upper and lower bound.
Choppiness: Choppiness refers to the degree of irregularity in price movements, often seen in sideways or range-bound markets.
Volatility: Volatility refers to the degree of variation in the price of an asset over time. High volatility implies larger price swings, while low volatility implies smaller price swings.
Kalman filter: A Kalman filter is a mathematical algorithm used to estimate an unknown variable from a series of noisy measurements.
In the context of the indicator, the Kalman filter is used to generate an overall estimate of the market by combining the local models.
T3 Six Pole Kalman Filter: The T3 Six Pole Kalman Filter is a specific type of Kalman filter that is used to smooth and filter time-series data, such as the price data of a financial instrument.
Fisher Transform: The Fisher Transform is a mathematical formula used to transform any probability distribution into a Gaussian normal distribution. It is commonly used in technical analysis to transform non-Gaussian indicators into ones that are more suitable for statistical analysis.
By understanding these fundamental concepts, you should have a basic understanding of how the indicator works and how it generates an overall estimate of the market.
Usage
You can use this indicator on every timeframe.
Users can customize the parameters of the T3 Six Pole Kalman Filter (T3 length, alpha, beta, gamma, and delta) using input functions.
Try out different parameter combinations and use the one you like most.
Thank you for checking this out. Leave me a comment or boost the script, when you wanna support me! 👌
--
Credits to:
▪@HPotter - Fisher Transform
▪@loxx - T3
▪ChatGPT - Helped me to make the research for this indicator and helped to build the core algorithm.
Range Identifier*Re-upload as previous attempt was removed.
An attempt to create a half decent identifier of when the markets are ranging and in a state of choppiness and mean reversion - as opposed to in trending trade conditions.
It's super simple logic just working on some basic price action and market structure operating on higher time frames.
It uses the Donchian Channels but with hlc3 data as opposed to high/lows - and identifies periods in which the baseline is static, or when the channel upper & lower are contracting.
This combination identifies non trending price action with decreasing volatility, which tends to indicate a lot of upcoming chop and ranging/sideways action; especially when intraday trading and applied on the daily timeframe.
The filter increasing results in a decrease of areas identified as choppy by extending the required period of a sideways static basis, I've found values of 2 or 3 to be a nice sweetspot!
Overall should be pretty intuitive to use, when the background changes just consider altering your trading and investing approach. This was created as I've not really seen anything on here that functions quite the same.
I decided to not include the Donchian upper/lower/basis as I found that can often lead to decision bias and being influenced by where these lines are situated causing you to guess on future direction.
It's obviously never going to be perfect, but a nice and unbiased way to quickly check where we may be in a cycle; let me know if there are any issues/questions and please enjoy!
Consolidation BoxThis script aims to help identify sideways markets. Once price leaves the Box the market will usually start a trending phase. Users can set a percent range to detect markets moving sideways within the range.
RedK Chop & Breakout Scout (C&B_Scout)The RedK Chop & Breakout Scout (C&BS or just CBS) is a centered oscillator that helps traders identify when the price is in a chop zone, where it's recommended to avoid trading or exit existing trades - and helps identify (good & tradeable) price breakouts.
i receive many questions asking for simple ways to identify chops .. Here's one way we can do that.
(This is work in progress - i was exploring with the idea, and wasn't sure how interesting other may find it. )
Quick Intro:
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Quick techno piece: This concept is similar to a Stochastic Oscillator - with the main difference being that we're utilizing units of ATR (instead of a channel width) to calculate the main indicator line - which will then lead to a non-restricted oscillator (rather than a +/- 100%) - given that ATR changes with the underlying and the timeframe, among other variables.
to make this easy, and avoid a lot of technical speak in the next part, :) i created (on the top price panel) the same setup that the C&B Scout represents as a lower-panel indicator.
So as you read below, please look back and compare what C&BS is doing in its lower panel, with how the price is behaving on the price chart.
how this works
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- To identify chops and breakouts, we need to first agree on a definition that we will use for these terms.
- for the sake of this exercise, let's agree that the price is in a chop zone, as long as the price is moving within a certain distance from a "price baseline" of choice ( which we can adjust based on the underlying, the volatility, the timeframe, the trading style..etc)
- when the price moves out of that chop zone, we consider this a breakout
- Now not all breakouts are "good" = they need to at least happen in the direction of the longer term trend. In this case, we can apply a long Moving Average to act as a filter - and consider breakouts to be "good" if they are in the same direction as the filter line
- With the above background in mind, we establish a price baseline (as you see on the top panel, this is based on the midline of a Donchian Channel - but we can use other slow moving averages in future versions)
- we will decide how far above/below that baseline is considered to be "chop zone" - we do this in terms of units of Average True Range (ATR) - using ATR here is valuable for so many reasons, most of all, how it adjusts to timeframe and volatility of underlying.
- The C&B Scout line simply calculates how far the price is above/below the baseline in terms of "ATR units". and shows how that value compares to our own definition of a "chop zone"
- so as long as the price is within the chop zone, the CBS line will be inside the shaded area - and when the price "breaks out" of the chop zone, the CBS line will also breakout (or down) from the chop zone.
- C&B Scout will give a visual clue to help take trades in the direction of the prevailing trend - the chop zone is green when the price is in "long mode", as in, the price is above the filter line - and will be red when we are in "short mode" - so the price is below the filter line. in green mode, we should only consider breakouts to the upside, and ignore breakouts to the downside (or breakdowns) - in red mode, we should only consider breakouts to the downside., and ignore the ones to the upside.
- i added some examples of "key actions" on the chart to help explain the approach here further.
Usage & settings Notes:
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- even though for many traders this will be a basic concept/setup, i still highly suggest you spend time getting used to how it works/reacts and adjusting the settings to suit your own trading style, timeframe, tolerance, what you trade....etc
- for example, if i am a conservative trader, i may consider any price movement within 1 x ATR above and below the baseline to be in "chop" (ATR Channel width = 2 x ATR) - and i want to only take trades when the price moves outside of that range *and* in the direction of the prevailing trend
- An aggressive trader may use a smaller ATR-based value, say 0.5 x ATR above/below the baseline, as their chop zone.
- A swing trader may use a shorter filter line and focus on the CBS line crossing the 0 line.
- .... and so on.
- Also note that the "tradeable" signal is when the CBS line "exits" the chop zone (upward on green background, or downward on red background) - however, an aggressive trader may take the crossing of the CBS line with the 0 line as the signal to open a trade.
- As usual please do not use this indicator "in isolation" and ensure you have other confirming signals from your setups before trading.
conclusion
===========
As i mentioned, this is really a simple concept - and i'm a big fan of those :) -- and there's so much that could be done to expand around it (add more visuals/colors, add alerts, add options for ATR calculation, Filter line calculations, baseline..etc) - but with this v1.0, i wanted to share this initially and see how much interest and how valuable fellow traders find it, before playing any further with it. so please be generous with your comments.
Binance CHOP Dashboard by KziHere is a Dashboard to find the opportunuty of bigs moves with 20 pairs.
The Dashboard is too big for the phone view. I thinks we can use it only on computer view.
How it's work ?
I look for the CHOP on Weekly and Daily time frame
The CHOP give the "tension" of the pair.
So i look for the biggest "tension" to take the "big mooves"
I look for the align tension between weekly and daily
The CHOP can be 0 to 100 , the result is:
(Weeky CHOP x Daily CHOP) = 0 to 10 000
To make the result easy to read, i divide so that the "note" is between 0 and 10.
If you have more than 3 /10 = RED => HOT Opporunity for big mooves
If you have less than 1/10 = BLUE => COLD opporunity
Thanks for your comment,
Kzi
The code is well.
But i think there is an opportunity to do it better with some for loop.
Is some of you do it, please let's me know.
Oster Double ChopThis indicator is based on the Chopiness Index. If you're used to trade with the Chop, you may check several timeframes to enter a position. It starts getting annoying to check 2 timeframes for every single position you want to enter in, thanks to this indicator, you'll be able to monitor it in a single indicator.
2 parameters will have to be set up:
Fixed timeframe
Session timeframe
The fixed timeframe is a timeframe that will be locked, and displayed no matter your session timeframe. You can change it in the parameters.
The session timeframe will depend on the timeframe selected on your chart.
By this way you can monitor 1 timeframe for any chart, and the other chop is flexible depending on what timeframe you're monitoring.
NOTE: if your session timeframe is the same as the fixed timeframe, you will see only one chop line because they overlay.
Have a nice trading!
Stochastic Choppiness IndexI felt that the choppiness index wasn't responsive enough on lower time frames so I applied the stochastic formula to it and gave it the ability to use other time frames.
Maybe use it similarly to the squeeze momentum.
CHOPORSI
CHOPORSI is a multiindicator.
This indicator help You to recognize potential in or out singal.
Base singals are from Choppines, RSI, AND DMI indicators.
It is a combination of 3 separate indicators like choppines RSI and DMI.
Then our new indicator see like bellow on next image.
Yellow line is sum of CHOP index and RSI , in this case we can say its a CHOPORSI Index.
Green line is DMI- line , this show us strength of sell position on the market.
We schould use other signals, like LSMA 50/100 to improve trend changing. Like on next picture.
Now how this indicator works?
Yellow line is the sum oF Chop and RSI value - 50.
Max and minimum value of CHOP and RSI are the same from 0 to 100.
We have sum of them.
Our minimum signal is 0+0-50=-50
maximum signal is 100+100-50= 150
Most times if both of tem are on top level ( then we have 150) the trend is chanhing from bullish to bearish.
The same way if the RSI ist on 0 and chop is over 50 ( then we have index 0 ) wee changing the tren from bearish to bullish.
Off course it not every time. We see other signals, to take our risk self not sugested by some art of indicators.
But if we are abowe topline, witch is set to 85 we can sey, we have have oversold signal.
Underline 30 isour potentialy buy signal.
Midrange 50 is mostly trand changin line.
This valu of top, mid bottom line you can change on the setting.
Every Coin have another level of this lines, and need to be checked individual to the coin.
Standard, settings are set fo timeframe : 12 min. 24 min, 1H and 4 H >
Blue crosses signalize possibilities trend changing.
This picture shou us how this indicator works.
Buy long signal : If yellow line is mostly at the bottom and green mostly on the top.
Sell long signal l. Yellow -top , green -bottom.
The Green line is from Directional Movement Index and is - DI line. Its show us selling trend. even higher position then mor sell of .
Standard value of CHOPPINES is 14 , works fin on 1H and abowe also wit the value of 28
Standard value for RSI AND -DI unchanging 14.
I tjink this is a simplu helpfull indycator.
WARNING!!! IF YOU AT THIS POINT CANT UNDERSUD THIS INDICATOR, PLEASE DONT USE THEM .
Signal, schould be confirmed with other indicators like MA, EMA even better with LSMA .
Please try it an make only paper trading, to undertand how its realy works.
Thank You!
CHOPperIt is based on the Choppiness Index indicator. It can show you when the market is in range. If the lines are below the lower band, it can be a strong trend, if it is inside the 2 bands, it is considered to be a choppy market, and if it is crossed down the upper band, it can be a developing trend.
This indicator does not show you the trend direction! This may be used as a confirmation indicator.
The improvements this indicator provides over the original:
It uses ATR instead of just TR (if ATR length is 1, it is the original TR)
It uses my ATRWO (ATR Without Outliers) indicator inside, which can remove extreme highs and lows from calculation. You can tune this by the "ATRWO STDev Mult" parameter. Higher value means more outliers are allowed.
It has 2 lines, one uses ATR(WO) (the blue one), which can be similar to the original Choppiness Index, the other uses standard deviation (the teal one).
The 2 lines can be used together, or you can hide one of them.
Chop Zone - SamXThis 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...
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
Note: If left at default settings, this indicator will exactly match the built-in Chop Zone indicator.
WARNING : 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:
Choppiness Index TileA simple tile on the chart that indicates the choppiness index on the chart for the chart's timeframe. The index tile will show 3 different colors based on the value of the choppiness index. 61.8 for the high threshold and 38.2 for the lower threshold.
Choppiness Index and RSI by ceyhun
Choppiness Index and RSI by ceyhun
This indicator is based on the inverse relationship between CHOP and RSI.
Bar color
If the RSI is greater than CHOP, the Bar color will be blue.
If CHOP is greater than RSI, the bar color will be red.
CHOP
If CHOP is less than 38.2, the color will turn blue. positive
If the CHOP is between 38.2 and 61.8, the color will be yellow and neutral.
If CHOP is greater than 61.8, the color will turn red. negative
Rsi
If Rsi is greater than 61.8, the color will turn blue, positive
If Rsi is between 38.2 and 61.8, the color will be hexagonal and neutral
If Rsi is less than 38.2 the color will be red, negative
The Choppiness Index (CHOP) is an indicator designed to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). The Choppiness Index is an example of an indicator that is not directional at all. CHOP is not meant to predict future market direction, it is a metric to be used to for defining the market's trendiness only. A basic understanding of the indicator would be; higher values equal more choppiness, while lower values indicate directional trending.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially the RSI, when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.
Tool: Chop and Trade Zones (v2)This is a refactored and advanced version of my filter tool "Chop and Trade Zones"
A simple yet powerful way to filter out choppy ranges or sideways moves without missing out on good trades.
It calculates the %-distance of the price to a moving average so you can ignore buy/sell signals around the center line.
The upper and lower line are thresholds to catch reversals of the trend when the distance to moving average is increasing.
New Features:
More than 60+ Moving Averages to choose from
Multi-Timeframe Selection with Repaint Protection
Signal Plot so you can access the signal from another TradingView study/strategy (0 = No Trade Zone / 1 = Long Only / 2 = Short Only / 3 = Long & Short Allowed)
Alerts for Long/Short Zones (you could enable/disable your trading bots automatically)
Tool: Chop & Trade ZonesA simple yet powerful way to filter out choppy ranges or sideways moves without missing out on good trades
It calculates the %-distance of the price to a moving average so you can ignore buy/sell signals around the center line.
The upper and lower line are thresholds to catch reversals of the trend when the distance to moving average is increasing.
Thanks @dgtrd and @imzeeshan for the inspiration 🙏
Chop Zone 9000 Chop Zone 9000 is based off Chop Zone by E.W Dreiss. Unlike the original Chop Zone, the main use for this iteration is support and resistance. There are 5 bars and each one represents a line of resistance. There will be areas where all red bars seem to clear up magically— this is due to gap ups or breakouts. The greatest benefit from this indicator is the ability to see if breakout attempts are successful. If the indicator sinks back into the red, then it is obvious that the trade should be abandoned.
I have implemented several alerts in this script. The most important alerts are the level 5 break, where the 5th bar is blue. It is common for price to stagnate if only the first few rows are blue. Therefore, I suggest it is certainly valuable to simply wait for all levels to clear before entering a trade.
WB RatioThis oscillator should help identify when the price is chopping or trending.
It may be used as a filter for other strategies
The first input is a smoother while the second and third determine the reaction speed
Chop & Trend===========
Chop & Trend
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A handy little indicator illustrating not only areas of Chop or "flat" market conditions, but also to indicate the start of a new trend and the new trend's direction.
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Using just a few algorithms to indicate the aforementioned (RSI, Jurik Moving Average and Angle of MA) we've tried to keep it simple as we believe adding too many variables can only degrade a good indicator, and not enhance it, as many would lead you to believe.
There's a few settings to play with regarding Relative Strength, Jurik MA and the ability to set an angle to determine when chop/trend starts or ends.
Good Luck and Happy Trading!
-theCrypster
