Chop Zones

This indicator plots two "zones" in the form of shaded boxes, one between PMH and PML and one between PDH and PDL, the area that is shaded more has the highest probability of price action to be "choppy", the lesser shaded area has less probability for "choppy" action whilst outside the shaded areas there is high probability of a trend.

This indicator can be used to determine one of the three types of day:

Chop day
Bullish trend day
Bearish trend day

Chop day example today on SPY


Bullish trend day example on DLTR


Bearish trend day example on UAL