This is a Strategy with associated visual indicators and Long/Short and Reverse/Close Position Alerts for the Choppiness Index (CHOP) . It is used to determine if the market is choppy (trading sideways) or not choppy (trading within a trend in either direction). CHOP is not directional, so a DMI script was ported into this strategy to allow for trend...
Disclaimer Use at your own risk, this is not financial advice!
Based on:
OCC v5.1 by JustUncleL and the Tradeview built in Chop Zone indicator
Merging both the OCC and chopzone allows to filter out some unprofitable trades during choppy times.
You can filter out the zones using the checkboxes in the settings.
Works well on 15min and 30min candles
This is a visual indicator designed to identify trends and choppiness.
the Chop Zone illustrates the difference between close price and its EMA by converting its values to colors.
this strategy has best performance on H1 timeframe and has a good results on several crypto pair.