Coil tells you when to trade and when to wait. It identifies when the market is choppy versus trending using slope-normalized trend detection.
What Coil Does
Coil uses the slopeNorm method to measure trend strength relative to volatility. By normalizing slope against ATR, the indicator adapts to any market regardless of price level. It provides a three-state system to filter your trading.
Key Features
- Three-State Detection - CHOP, CAUTION, and CLEAR states
- Background Highlighting - Gold background for CHOP, orange for CAUTION, clear for trending
- State Change Labels - Labels appear on transitions showing current state
- Perfect Filter - Use with other indicators to avoid false signals in choppy markets
Three-State System
CHOP (Gold Background)
Slope is very flat relative to volatility. High probability of whipsaw signals. Avoid trend-following trades, wait for clarity.
CAUTION (Orange Background)
Mixed signals, borderline conditions. Be selective with new entries, tighten stops on existing positions. Optional—disabled by default.
CLEAR (No Background)
Market is trending with good momentum. Signals from other indicators are reliable. Good conditions for trend-following trades.
Best Practices
- Only take Strike signals when Coil shows CLEAR status
- When Coil shows CHOP, either stay out or use range-trading strategies
- Wait for CLEAR after CHOP before entering new trades
- Combine with Rush chop dots for confirmation
Settings
- Sensitivity - Low/Normal/High controlling detection thresholds
- Show Background - Toggle background highlighting
- Show Label - Toggle state change labels (off by default)
- Show Caution Zones - Enable orange caution state (off by default)
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