PROTECTED SOURCE SCRIPT
Choppy Market Meter x SmartBlackGirl
How It Works
The indicator measures compression or indecision by analyzing Bollinger Band Width (BBW), volume, and price behavior. It plots a bar graph or colored meter under your chart showing:
🔴 Red (Chop Zone) – Market is consolidating or stuck in a tight range. Avoid trading.
🟡 Yellow (Transition) – Volatility may be increasing. Watch for breakouts.
🟢 Green (Breakout Zone) – Volatility has expanded, and the market is likely trending. This is the best time to trade momentum-based setups.
✅ Best Times to Trade with the Chop Meter
Wait for the bar to turn green or exit the red zone.
Confirm with other signals like:
Breakouts from Bollinger Band squeezes
Volume surge
Directional bias (e.g., from ORB box or higher timeframe trend)
Avoid trades during red chop bars, as breakouts often fail and get reversed.
Use the Chop Meter as a filter, not a signal. Combine it with your breakout or momentum strategy (e.g., BB Squeeze, ORB Box) to increase win rate and avoid trading noise.
The indicator measures compression or indecision by analyzing Bollinger Band Width (BBW), volume, and price behavior. It plots a bar graph or colored meter under your chart showing:
🔴 Red (Chop Zone) – Market is consolidating or stuck in a tight range. Avoid trading.
🟡 Yellow (Transition) – Volatility may be increasing. Watch for breakouts.
🟢 Green (Breakout Zone) – Volatility has expanded, and the market is likely trending. This is the best time to trade momentum-based setups.
✅ Best Times to Trade with the Chop Meter
Wait for the bar to turn green or exit the red zone.
Confirm with other signals like:
Breakouts from Bollinger Band squeezes
Volume surge
Directional bias (e.g., from ORB box or higher timeframe trend)
Avoid trades during red chop bars, as breakouts often fail and get reversed.
Use the Chop Meter as a filter, not a signal. Combine it with your breakout or momentum strategy (e.g., BB Squeeze, ORB Box) to increase win rate and avoid trading noise.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.