Choppy Market Index

Choppy Market Index

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Indicator values are in the range 0-100. The greater is the indicator value, the greater is the market stability, so the more likely we have trend. The smaller is the indicator value – the less probable the trend is.

Calculation formula:

CMI = ((ABS(Close[0]-Close[n]))/(MaxHigh[n]-MinLow[n]))*100

Where:

  • ABS – absolute value
  • Close[0] – last close
  • Close[n] – close N bars ago
  • MaxHigh[n] – maximal value of High for the N bars period
  • MinLow[n] – minimal value of Low for the N bars period

 

MT5 Indicator – Download Instructions

Choppy Market Index is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.

Choppy Market Index provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install Choppy Market Index.mq5?

  • Download Choppy Market Index.mq5
  • Copy Choppy Market Index.mq5 to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader 5 Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
  • Right click on Choppy Market Index.mq5
  • Attach to a chart
  • Modify settings or press ok
  • Indicator Choppy Market Index.mq5 is available on your Chart

How to remove Choppy Market Index.mq5 from your Metatrader 5 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

Click here below to download MT5 Indicator:

Choppy Market Index

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