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Choppiness Index

Formula for: MetaStock

Views: 2712

Added: June 12, 2007

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Choppiness Index can be viewed as an indicator measuring the market's trendiness (the output is well below its average on the chart) versus the market's choppiness (the output is well above its average on the chart). The basic idea is that when the market is heavily trending during the past N bars, the fractal dimension is close to one and the Choppiness Index is around zero.

Code:

Choppiness Index
((log(sum(atr(1),14) / (hhv(if(H,>=,ref(C,-1),H,ref(C,-1)),14) -
llv(if(L,<=,ref(C,-1),L,ref(C,-1)),14))) / log(10))/(log(14)/log(10))) * 100

Source: http://www.guppytraders.com

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