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- Choppiness Index Indicator in MT4 Download - Free - [TradingFinder]
Choppiness Index Indicator in MT4 Download - Free - [TradingFinder]
The Choppiness Index indicator is one of the technical analysis tools in MetaTrader 4, designed to measure the level of choppiness or instability in the market over specific time intervals. This indicator identifies market conditions in shorter timeframes and recognizes periods of instability and range-bound trends.
Indicator Specifications Table
Category | Oscillator - Strength - Volatile |
Platform | MetaTrader 4 |
Skill Level | Intermediate |
Indicator Type | Range - Volatile |
Timeframe | Multi Time Frame |
Trading Style | Intraday Trading |
Trading Market | All Markets |
Bullish Trend Conditions
Based on the hourly price chart of Cardano (ADA), when the oscillator line of the indicator fluctuates in positive areas above 61.8, the price is unstable and range-bound. Conversely, when the oscillator line (in blue) fluctuates below 28.2, the price exits instability and trends.
Bearish Trend Conditions
Based on the hourly price chart of the USD/CAD currency pair, when the oscillator line of the indicator fluctuates in positive areas above 61.8, the price is unstable and range-bound. Conversely, when the oscillator line (in blue) fluctuates below 28.2, the price exits instability and trends.
Indicator Settings
- Chart Theme: Settings Theme;
- Calculation Period: The indicator calculation period is set to 14.
Conclusion
The Choppiness Index Oscillator is a valuable tool for technical analysts using MetaTrader 4 who want to identify choppiness or trend conditions in the market. This indicator allows unstable markets to be easily distinguished from strong trending markets, allowing for appropriate trading strategies in any condition.
Which trading market is this indicator suitable for?
The Choppiness Index is suitable for use in all trading markets.
Which timeframe is this indicator suitable for?
This indicator is multi-timeframe and works well in all timeframes.