This Pine Script indicator overlays institutional liquidity levels on the price chart. It identifies order block levels using pivot highs and lows, then draws mean reversion lines from the 20 and 50 period simple moving averages, a volatility range midpoint pr
Indicator · Pine Script v5 · On the chart
TXF Choppy Detector
The TXF Choppy Detector is an indicator that identifies choppy or sideways markets in Taiwan index futures using the Choppiness Index (CHOP).
GitHub stars1on the repository
Pine versionv5runs as is
Lines of code55
Settings4inputs
LicenceNone stated
Last update10 months ago17 Dec 2025
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
TXF Choppy Detector plots Bollinger Bands on the price chart with customizable length and multiplier. The script detects washout signals during choppy conditions: washout high signals (potential shorts) when price breaks the upper band but closes below, and washout low signals (potential longs) when price breaks the lower band but closes above. It shades the background gray when CHOP exceeds the threshold to highlight sideways periods. Main settings adjust Bollinger Bands parameters, CHOP length, and threshold. The indicator draws signals, labels, and a panel showing current market state and CHOP value on the chart. It signals potential reversals in low-trend-efficiency environments without predefined exit rules.
- Choppiness Index
- Bollinger Bands
- Washout Signals
- Choppy Background
- Market State Panel
Details
Published by
amytsengtw on GitHub
Type
Draws
On the price chart
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Repository
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| 布林通道長度 | int | 20 | bb_len |
| 標準差倍數 | float | 2.0 | bb_mult |
| CHOP 長度 | int | 14 | chop_len |
| 震盪判定門檻 (高於此值視為盤整) | float | 50.0 | chop_thresh |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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