Chop Zone: the slope of a 34-bar EMA, read as an angle and bucketed into a
nine-colour ladder from turquoise (steep rise) through yellow (flat) to dark
red (steep fall).
The plot itself is a constant 1: every bar is the same height and all the
information is in the colour. That is not a stylistic choice we can improve
on: it is the study. The slope is made comparable across instruments by
span, which rescales it against the 30-bar range, so the angle means the
same thing on a 20-rupee stock and a 20000-point index.
angle is returned as an unplotted column so colorBy can read it; the
ladder is a property of the bar, not of the value being plotted.
Chop Zone: the slope of a 34-bar EMA, read as an angle and bucketed into a nine-colour ladder from turquoise (steep rise) through yellow (flat) to dark red (steep fall).
The plot itself is a constant 1: every bar is the same height and all the information is in the colour. That is not a stylistic choice we can improve on: it is the study. The slope is made comparable across instruments by
span, which rescales it against the 30-bar range, so the angle means the same thing on a 20-rupee stock and a 20000-point index.angleis returned as an unplotted column socolorBycan read it; the ladder is a property of the bar, not of the value being plotted.