TSO Choppy Market Index MT5

The Choppy Market Index (CMI) is an indicator of market volatility. The smaller the value of the indicator, the more unstable the market. It calculates the difference between the closing of the last bar and a bar n periods ago and then divides that value by the difference between the highest high and lowest low of these bars.

Features

• Easily separate trends from the market noise
• The indicator is non-repainting.
• Returns CMI values through buffer. (see below)

Inputs

• Period: The number of periods between the last bar and the one subtracted.
• Last Bar Included: Include the bar being drawn in the CMI calculation.

For EA Developers

The indicator can be easily used as part of an EA.

• Buffer for CMI value = 0