The indicator is bounded between 1 and 100 and must be read inverted of the price : the higher the value, the higher probability that the market is ranging. If the choppiness index is evolving below the 38.2, we can consider that the market is trending, if its value is superior to 61.2 then the price is moving sideways.

// parameters:
// n=14

choppinexindex = 100 * LOG( SUMMATION[n](averagetruerange[1]) / ( Highest[n](high) - Lowest[n](low) ) ) / LOG(n)

RETURN choppinexindex

Download

Filename: Choppiness-index.itf

Downloads: 308

Nicolas Master

I created ProRealCode because I believe in the power of shared knowledge. I spend my time coding new tools and helping members solve complex problems. If you are stuck on a code or need a fresh perspective on a strategy, I am always willing to help. Welcome to the community!

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