Chop Meter + Trade Filter 1H/30M/15M (Ace PROFILE CLEAN v2)

What this indicator does

Name: Chop Meter + Trade Filter 1H/30M/15M (Ace PROFILE CLEAN v2)

This is not an entry signal indicator. It’s a market condition filter:

It checks how compressed or expanded price is on
1H, 30M, and 15M.

It labels each TF as CHOP or NORMAL.

If 2 or more of those are in CHOP, it prints NO TRADE.

If 0 or 1 are in CHOP, it prints TRADE.

You use it to answer one question:

“Is this a session I should be pushing the button,
or is this a day to sit on my hands?”

How it works (simple version)

For each timeframe (1H, 30M, 15M), the script:

Looks back N bars (ATR length).

Measures:

ATR over N bars

Price range over N bars (highest high − lowest low)

Computes a compression value:
compression = ATR / range.

Then it compares that to the Threshold:

If compression > threshold → CHOP (market boxed / compressed)

If compression ≤ threshold → NORMAL (market expanded / trending)

Finally:

It counts how many TFs are CHOP.

If 2 or 3 TFs are CHOP → NO TRADE.

If 0 or 1 TFs are CHOP → TRADE.

Inputs / Profiles

At the top you see:

Profile

Overnight 4/0.40 – for Asia / London / overnight sessions

NYO 5/0.45 – for New York Open profile (default)

Custom – lets you type your own values

When Custom is selected, you can set:

ATR Length (Custom) – how many bars to use in the compression calc

Chop Threshold (ATR ÷ Range) (Custom) – where you cut between CHOP vs NORMAL

Higher threshold → more bars counted as NORMAL, less CHOP

Lower threshold → more bars counted as CHOP, fewer TRADE environments

For NYO, you normally keep:

Profile = NYO 5/0.45
(ATR over 5 bars, threshold 0.45)

What you see on the chart

A single line panel at the bottom-right, like:

1H: NORMAL | 30M: CHOP | 15M: NORMAL | TRADE | NYO 5/0.45

Meaning:

1H: NORMAL → the last 1H window is expanded enough (not boxed).

30M: CHOP → 30M is compressed (inside a tighter range).

15M: NORMAL → 15M has opened up.

TRADE → Only 1 TF is CHOP, so the majority says OK to trade.

NYO 5/0.45 → just a tag to remind which profile you’re using.

If instead you see:

1H: CHOP | 30M: CHOP | 15M: NORMAL | NO TRADE | NYO 5/0.45

That means:

1H and 30M are boxed

15M opened a bit, but 2 TFs are CHOP

Final verdict: NO TRADE environment

How to use it in your trading
1. As a gatekeeper before any entry model

No matter what entry you use (MSS + FVG, OB, purge setups, etc.):

If the panel says NO TRADE →

You do not open new positions.

You’re in “observe only” mode.

You can still study price, mark levels, and journal, but you’re not pressing the button.

If the panel says TRADE →

The environment is acceptable.

Now you can look for your entry model (e.g. MSS + FVG retest, SMT, OB, etc.).

Think of it as your first filter every session:

“Panel says NO TRADE? I don’t care how good the candle looks – I’m waiting.”

2. Reading each timeframe

1H: CHOP → Day is still boxed on the higher frame; big expansion hasn’t kicked in.

30M: CHOP → Classic 30M dealing range; many fake breaks and wicks likely.

15M: CHOP → Intraday still coiling; scalping environment at best.

When 2 or 3 say CHOP, expect:

Whipsaw

MSS both ways

Failed FVGs

News spikes that die in the box

Perfect time to protect your psychology and capital.

When 2 or 3 say NORMAL, expect:

Cleaner swings

Better follow-through after MSS / FVG

Easier to hold for targets

3. How it pairs with your MSS/FVG indicator

With your Chop + MSS/FVG Retest indicator:

Chop meter = environment filter

MSS/FVG indicator = entry trigger

Your process becomes:

Check chop meter:

If NO TRADE → hands off.

If TRADE → go to step 2.

On your chart, wait for:

Purge / SMT at the edges

MSS in the right direction

FVG + retest

Only take L/S when both:

Chop meter = TRADE, and

Entry model = L/S signal in the right area (premium/discount).

That way, you’re not just trading every L/S the MSS script spits out—you’re trading L/S only when the higher-timeframe environment is worth it.