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Choppiness Index

5

"Wouldn't we all love to reliably know when a stock is starting to trend, and when it is in flat territory? An indicator that would somehow tell you to ignore the head fakes and shakeouts, and focus only on the move that counts?"

The Choppiness Index is a non-directional indicator designed to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). It is an oscillating indicator between -50 (very trendy) and +50 (very choppy).

There are many strategies for trading using the Choppiness Indicator:

1. Buy or sell the breakout rebounding from extreme Choppiness Index values

  • When CI moves below +11.8 (choppy to trendy) after rebounding from a high CI value, this may indicate upcoming trend. Look for confirmation of direction in the price
  • For a more conservative trade, wait until the CI moves past 0 (shown in screenshot)

2. Ride the trend with the Choppiness Index (when to exit, and when not to)

  • If the price is trending but the CI has not reached above the +11.8 threshold more than three times, then the trade is likely to continue. If CI crosses +11.8 three times or more, then the trend is likely to stop

3. Refine your trading strategy's performance by confirming current market conditions BEFORE entering a trade. Many trading strategies perform best under specific market conditions. Quantitatively pick your desired amount of choppiness/trendiness using the CI.


Additional Details

  • Thresholds are commonly used with the Choppiness Index to determine choppy versus trendy movements. Common values are popular Fibonacci Retracements: +11.8 for the high (choppy) threshold and -11.8 for the low (trendy) threshold
  • The Choppiness Index pairs well with trend lines and traditional pattern recognition


Alerts

Email, message, and sound alerts can be turned on/off for the following events. Please note that email recipient and SMTP information should be specified in MetaTrader 4/options before using email alerts.

  • Choppiness Index is crossing 0
  • Choppiness Index is above user-selectable upper (choppy) threshold (Default=11.8)
  • Choppiness Index is below user-selectable lower (trendy) threshold (Default=-11.8)


Parameters

  • CHOP period (Default=14): number of bars used for indicator calculations
  • CHOP smoothing (Default=1): optional smoothing period applied to Choppiness Index. 1=no smoothing, >1 = increased smoothing (using this value as smoothing period)
  • Plot circles when CI > upper threshold: True = crossovers are highlighted by circles
  • Plot circles when CI < lower threshold: True = crossovers are highlighted by circles
  • Plot circles when CI crosses zero: True = crossovers are highlighted by circles
  • Turn on/off all alerts: True = alerts are allowed, false = all alerts are paused
  • Alert when CI crosses 0: If true, alerts when Choppiness Index value crosses 0
  • Alert when CI is above upper threshold: If true, alerts when Choppiness Index value is above user-defined upper (choppy) threshold
  • Upper alert threshold (Default=11.8): User-defined upper alert threshold
  • Alert when CI is below lower threshold: If true, alerts when Choppiness Index value is below user-defined lower (trendy) threshold
  • Lower alert threshold (Default=-11.8): User-defined lower alert threshold
  • Turn on alerts message: Message box alert
  • Turn on alerts sound: Sound alert
  • Turn on alerts email: Email alert
Reviews 1
Natasha Diedericks
5748
Natasha Diedericks 2020.06.14 12:36 
 

Thanks

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IX Power finally brings the unbeatable precision of FX Power to all your trading symbols. It accurately determines the intensity of short, medium and long-term trends in your favourite indices, stocks, commodities, ETFs, and even cryptocurrencies. You can analyse everything your terminal has to offer. Try it out and experience how your timing improves significantly when trading. Read about our latest strategic development -  Easy scalping with IX Power Visit our all-new   Stein Investments
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"Battles between bulls and bears continue to influence price development long after the combat has ended, leaving behind a messy field that observant technicians can use to manage risk and find opportunities. Apply "trend mirror" analysis to examine these volatile areas, looking for past action to impact the current trend when price turns and crosses those boundaries." - Investopedia.com RSI Mirrors and Reflections is a robust technique using multiple RSI periods, mirrors and reflections based o
Fano Factor is a measure of the dispersion of the probability distribution of Fano noise, named after Ugo Fano, an Italian-American Physicist. Fans has applications in Particle Detection and Neuroscience for describing variability in complex multivariate data. In trading, we have discovered Fano can be used as a 'signal to noise' ratio, and can indicate the strength of price movements (i.e., price movement is greater than predicted by purely statistical measures). Like standard deviation, Fano F
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True Choppiness Direction determines if the market is choppy (trading sideways) or if it is trending, as well as the trend direction and strength (green=up, red=down, grey=no trend) . The underlying algorithm is designed to detect trend movements even in the presence of noisy market data, please see screenshots. Trend strength is indicated by taller or shorter red/green fill. Choppiness index is range-bound between -50 (very trendy) and +50 (very choppy). This is a custom algorithm designed by u
Laguerre SuperTrend Clouds adds an Adaptive Laguerre averaging algorithm and alerts to the widely popular SuperTrend indicator. As the name suggests, Laguerre SuperTrend Clouds (LSC) is a trending indicator which works best in trendy (not choppy) markets. The SuperTrend is an extremely popular indicator for intraday and daily trading, and can be used on any timeframe. Incorporating Laguerre's equation to this can facilitate more robust trend detection and smoother filters. The LSC uses the impro
Catch major price movements, early in the trend. Alerts you to enter at the likely beginning of a trend, and if it's incorrect, quickly alerts you to exit to limit any loss. Designed to capture large, profitable price movements, with early entrance to maximize your returns. As shown in screenshots, typical behavior is  several quick entrance/exists with small loss , and then  capture of a large trend with high profits .  The   Instantaneous Trend  indicator is a lag-reduced method to detect pri
Looking for strong trend entrance and exit points of trends? This incorporates volume into price calculations for a fast entry/exit, showing how supply and demand factors are influencing price, and  giving you more insights than the average trader uses. The   Volume Accumulation Trend   indicator is a cumulative indicator that uses both   volume  and   price  to investigate whether an asset is growing or falling. It identifies differences between the price and the volume flow, which lets us kno
"Wouldn't we all love to reliably know when a stock is starting to trend, and when it is in flat territory? An indicator that would somehow tell you to ignore the head fakes and shakeouts, and focus only on the move that counts?" The Choppiness Index is a non-directional indicator designed to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). It is an oscillating indicator between -50 (very trendy) and +50 (very choppy). There are man
Two Period RSI + Alerts compares long-term and short-term RSI lines, and plots a fill between them for improved visualization. Fill is colored differently according to an uptrend (short period RSI above long period RSI) or a downtrend (short period RSI below long period RSI). Short-term RSI crossing long-term RSI adds a more robust trend confirmation signal than using single period RSI alone. This is a tool to help visualize and confirm RSI trends. We hope you enjoy! Alerts Email, message, and
"Battles between bulls and bears continue to influence price development long after the combat has ended, leaving behind a messy field that observant technicians can use to manage risk and find opportunities. Apply "trend mirror" analysis to examine these volatile areas, looking for past action to impact the current trend when price turns and crosses those boundaries." RSI Mirrors and Reflections is a robust technique using multiple RSI periods, mirrors and reflections based on RSI values to ind
The  Laguerre VIX Trend Extrema   (LVTE)  indicator detects market tops and bottoms. As its name suggests, LVTE is a percentage price oscillator that identifies extreme ranges in market price. How to use: Buy when the indicator was in the lower "blue" range for more than 2 candles, and then moves up into grey. Sell when the indicator was in the upper "red" range, and then moves down into orange. Please see screenshots for examples! To make it simple, the indicator can show this by painting "dots
Catch major price movements, early in the trend. Alerts you to enter at the likely beginning of a trend, and if it's incorrect, quickly alerts you to exit to limit any loss. Designed to capture large, profitable price movements, with early entrance to maximize your returns. As shown in screenshots, typical behavior is several quick entrance/exists with small loss , and then capture of a large trend with high profits .  The Instantaneous Trend  indicator is a lag-reduced method to detect price t
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Natasha Diedericks
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Natasha Diedericks 2020.06.14 12:36 
 

Thanks

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Version 1.4 2021.12.01
Upgraded for new MT4 version compatibility
Version 1.3 2017.03.22
- Circles appear when CI crosses zero/upper threshold/lower threshold. User can choose whether to display circles.
- Users can now customize indicator colors
- Replaced "alerts are ON" warning popup with printed message in Experts tab
- Updated indicator icon
Version 1.2 2016.10.18
V1.2 includes 2 major improvements:

1. Optimized code to speed calculation time for smoothed Choppiness Index
2. Message, sound, and email alerts

New Alerts Input Parameters:
- Turn on/off all alerts: True = alerts are allowed, false = all alerts are paused
- Alert when CI crosses 0: If true, alerts when Choppiness Index value crosses 0
- Alert when CI is above upper threshold: If true, alerts when Choppiness Index value is above user-defined upper threshold
- Upper alert threshold (Default=11.8): User-defined upper alert threshold
- Alert when CI is below lower threshold: If true, alerts when Choppiness Index value is below user-defined lower threshold
- Lower alert threshold (Default=-11.8): User-defined lower alert threshold
- Turn on alerts message: message box alert
- Turn on alerts sound: sound alert
- Turn on alerts email: email alert
Version 1.1 2016.09.28
V1.1 includes custom property icon