This is my spin on the Chop Zone indicator. It was forked from the built-in TradingView Chop Zone indicator. There were several reasons for this effort...
The built-in indicator version had no real configuration options
It was hard-coded to use the 34-period EMA with fixed span sizes for identifying price range
There was no real context to the meaning of default color scheme
The separation points of the chop zone bars was at a fixed 1.43-degree scale
[u]Note:[/u] If left at default settings, this indicator will exactly match the built-in Chop Zone indicator.
[u]WARNING[/u]: Please be sure you understand the potential impact and implications before adjusting any of the settings in the "Advanced Configuration" section!!!
Thank You Brother , its a Great Script , God bless you :)
simwai
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there's math.round() 🖖
vennasravanalakshmi
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Could you please explain how the Chop Zone indicator was formulated/calculated.
vennasravanalakshmi
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Really great work. But the only limitation is the indicator is not working well with renko charts. Could you please come up with a solution to this?
fractionfourth
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is it possible to plot these bars below the candles?
SamAccountX
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@fractionfourth, This was designed and built to be an under-chart indicator. As such, in its present form, it cannot be plotted on the chart with the candles. To get that kind of behavior, it would have to effectively be re-written as an overly-type indicator.