There are two types of technical indicators in thinkorswim: studies and strategies (not taking into account the multitude of the pre-defined patterns, as there is a separate section in the manual dedicated to these). The Choppiness Index Indicator comes with indicator code and installation instructions for Tradestation and ThinkorSwim, as well as indicator code (but no installation support) for Metastock and Ninjatrader.

CHOP is not meant to predict future market direction, it is a metric to be used to for defining the market's trendiness only. A basic understanding of the indicator would be; higher values equal more choppiness, while lower values indicate directional trending. The Choppiness Index is a volatility indicator developed by Australian commodity trader Bill Dreiss to indicate whether a market is trending or ranging. True to its name, the choppiness index indicator does help identify when a stock is experiencing volatility; however, trading choppy markets is not where the indicator excels. Tech Indicators. Published on Mar 28, 2017 In this webinar, our Chief Analyst will discuss how to trade trends and ranges using the Choppiness Index. Choppiness is a modern indicator based on ideas of chaos theory and fractal geometry. Studies are technical indicators that calculate certain values for each bar on chart. The Choppiness Index is an example of an indicator that is not directional at all.

Values range between 0 and 100, with low values indicating a strong trend and high values signaling consolidation.

Choppiness is a modern indicator based on ideas of chaos theory and fractal geometry. Benoit Mandelbrot was the one person most responsible for the great interest in the subject of fractal geometry. He showed how fractals can occur in many different places in both mathematics and elsewhere in nature.

You also get an easy-to-understand overview video that shows you simple tips for interpreting the readings. The strength in the indicator is best displayed when used as a confirmation that a stock is starting to trend or breaking out. Benoit Mandelbrot was the one person most responsible for the great interest in the subject of fractal geometry. He showed how fractals can occur in many different places in … The Choppiness Index provides traders with a …