Indicators & OscillatorsCHOP
Measures whether a market is trending (low values near 38.2) or range-bound / choppy (high values near 61.8) using ATR and the highest-high/lowest-low range.
CHOP = 100 × log₁₀(Σ ATR(1, n) / (Highest High_n − Lowest Low_n)) / log₁₀(n)