OPEN-SOURCE SCRIPT
Choppiness Index (levels)

This Pine Script is a Choppiness Index Indicator with gradient visual enhancements. The Choppiness Index is a technical analysis tool that measures the "choppiness" or sideways movement of the market. It ranges from 0 to 100, where higher values indicate a more consolidated or sideways market, and lower values suggest a trending market.
Key Features:
Choppiness Index Calculation:
The script calculates the Choppiness Index based on the Average True Range (ATR) and the highest and lowest prices over a user-defined period (length).
Visual Bands:
Horizontal dashed lines are drawn at levels 55 (Upper Band), 50 (Middle Band), and 45 (Lower Band) to define key levels for interpreting the indicator.
Gradient Fills:
A blue fill is applied between the upper and lower bands (45–55) for visual clarity.
Dynamic gradients are applied to the areas:
Above the Upper Band (55–100): A green gradient fill where the color intensity increases with higher values.
Below the Lower Band (0–45): A red gradient fill where the color intensity increases with lower values.
Offset Option:
The offset input allows users to shift the Choppiness Index plot horizontally for visualization or alignment purposes.
Usage:
This indicator helps traders quickly assess market conditions:
Values above 55 indicate a choppy, non-trending market.
Values below 45 indicate a trending market.
The gradient fills make it easier to spot extreme conditions visually.
Customization:
Users can adjust:
length: The calculation period for the Choppiness Index.
offset: Horizontal shift of the Choppiness Index plot.
The gradient colors (green and red) and transparency levels are customizable in the script.
This enhanced visualization is ideal for traders who want a clear and intuitive representation of market choppiness, combined with visually striking gradient fills for quick analysis of market conditions.
Key Features:
Choppiness Index Calculation:
The script calculates the Choppiness Index based on the Average True Range (ATR) and the highest and lowest prices over a user-defined period (length).
Visual Bands:
Horizontal dashed lines are drawn at levels 55 (Upper Band), 50 (Middle Band), and 45 (Lower Band) to define key levels for interpreting the indicator.
Gradient Fills:
A blue fill is applied between the upper and lower bands (45–55) for visual clarity.
Dynamic gradients are applied to the areas:
Above the Upper Band (55–100): A green gradient fill where the color intensity increases with higher values.
Below the Lower Band (0–45): A red gradient fill where the color intensity increases with lower values.
Offset Option:
The offset input allows users to shift the Choppiness Index plot horizontally for visualization or alignment purposes.
Usage:
This indicator helps traders quickly assess market conditions:
Values above 55 indicate a choppy, non-trending market.
Values below 45 indicate a trending market.
The gradient fills make it easier to spot extreme conditions visually.
Customization:
Users can adjust:
length: The calculation period for the Choppiness Index.
offset: Horizontal shift of the Choppiness Index plot.
The gradient colors (green and red) and transparency levels are customizable in the script.
This enhanced visualization is ideal for traders who want a clear and intuitive representation of market choppiness, combined with visually striking gradient fills for quick analysis of market conditions.
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
開源腳本
本著TradingView的真正精神,此腳本的創建者將其開源,以便交易者可以查看和驗證其功能。向作者致敬!雖然您可以免費使用它,但請記住,重新發佈程式碼必須遵守我們的網站規則。
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。