Chop Index

Chop Index NinjaTrader 8 indicator calculates an index of the level of the choppiness of the market. It plots a value between 0 and 1. When the value is closer to 1 it means the market is chopping and it is not making clear chart patterns.

Period: Number of bars used in the calculation
Tolerance (ticks): the maximum distance in ticks between the open and close for you to still call a bar a Doji