The meaning of this indicator is obvious from the name.

Noise Level is designed to separate true and false breakdowns. It examines in detail HOW the price approaches the expected breakout point. Therefore, it helps to follow channel or fractal breakouts only when the probability of a new trend is the highest (the market is the least noisy). On the other hand, the indicator can also be used to determine the best scalping opportunities based on returns to the channel (when the market is most noisy).

Noise Level is represented as an oscillator on a relative scale from 0 to 1. The higher the value , the more noisy the market is.

In order to prevent the possibility of fitting, the Noise Level has a single input parameter that determines how many bars are used for calculations.