Use it to filter out (in brown) when it is not worth trading as we are in chop zone.
study(title="h chop filter v1.1", shorttitle="h chop filter", overlay=true) //Example filtering out with a threshold of 0.003 -> http://i.imgur.com/kP7OI1o.png //hecate tx aswell to zmm20 len = input(10, title="Period", minval=2) FilterOut=input(0.007, title="FilterOut", minval=0.0001) HowBigBubbles0to1=input(0.02, title="HowBigBubbles0to1", minval=0.0001) lr=linreg(close,10,0) maxlr=highest(lr*(1+HowBigBubbles0to1),10) minlr=lowest(lr*(1-HowBigBubbles0to1),10) zld_h=linreg(high,len,0) zld_l=linreg(low,len,0) diff(a,b)=>(a-b)/((a+b)/2) chop=diff(zld_h,zld_l) t1=chop<FilterOut?maxlr:na b1=chop<FilterOut?minlr:na t2=chop>FilterOut?maxlr:na b2=chop>FilterOut?minlr:na p1=plot(t1,color=chop<FilterOut?#B45F06:na,style=line,linewidth=1,transp=100) p1b=plot(b1,color=chop<FilterOut?#B45F06:na,style=line,linewidth=1,transp=100) p2=plot(t2,color=chop>=FilterOut?white:na,style=line,linewidth=1,transp=100) p2b=plot(b2,color=chop>=FilterOut?white:na,style=line,linewidth=1,transp=100) fill(p1,p1b,color=#B45F06,transp=50) fill(p2,p2b,color=white,transp=50)