Does anyone know the basic idea and or formulas behind choppiness indicators. I know that esignal has an indicator like this and I have heard of others. My understanding is that the purpose is to identify when trend indentification may be unreliable. But I have never really seen it.
I don't see an indicator like this for ninja.
If it has value and is not insanely complicated I might look at it.
But I really could use some information on what choppiness indicators are and how they work.
btw. it has been suggested to me that you could define choppy as a high percentage of both head and tail long wick candles.
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