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Choppiness Index

by pilow, 3706 days ago
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The Choppiness Index is an oscillator designed to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). The Choppiness Index is not directionnal. Higher values equal more choppiness, while lower values indicate directional trending.

- the Choppiness Index measures the linearity of price moves.

Markets go through phases of range expansion and range contraction. The choppiness index can help quantify those phases.

- a market contraction leads to a non linear price action, and the energy gets built up.
- a trending market, sees its price action become more linear and the energy gets exhausted.

example of formula :

chop = choppiness_index(20);
Plot(chop, "Choppiness Index", colorGray, ChartLine);

As a reference to ways to use this indicator, you can read :
https://www.tradingview.com/stock-charts-support/index.php/Choppiness_Index_%28CHOP%29


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Type: Trading Indicator

Object ID: 1526


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