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Market Regime - Ranging or Trending

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This is a Trend Analysis oscillator which tracks the overall trend strength.

It shows clearly whether the market is in a consolidation range or is trending.

The oscillator is "directionless", i.e. intentionally doesn't show whether it's an uptrend or downtrend - just the strength on a 0-100 scale.

** Detection Methods **

Select between one of three detection methods:
  • Average Directional Movement Index (ADX)
  • Choppiness Index (Fractal)
  • Efficiency Ratio


The background colour is set according to the plot value:
  • When the market is ranging, the background doesn't change.
  • When the market is trending (up or down), the background begins to change, with the colour turning progressively more opaque the stronger the trend.


** How to Trade **

Use as additional confirmation on the signals provided by other indicators or strategies. When the other indicator has historically shown Buy or Sell levels/signals, note the market regime on that bar and how well the trade performed.
ملاحظات الأخبار
Fixed the Choppiness Index plot.

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