I'm working with hash tables that use separate chaining as a collision resolution technique.
I do know that the general formula is N/table_length, where N is the number of items currently in the table.
I'm a bit confused by the denominator. Would it be the size of the array + the number of chained elements, or simply the size of the array?
The purpose of the load factor is to give an idea of how likely (on average) it is that you will need collision resolution if a new element is added to the table. A collision happens when a new element is assigned a bucket that already has an element. The chance that a given bucket already has an element depends on how many elements are in the container.
load factor = # of elements / # of buckets
(In your terminology: the number of items currently in the table divided by the size of the array.)