cI8DH

Volume Accumulation Percentage Indicator (0-100)

This indicator is the same as LazyBear's indicator with the same title. I simplified it and changed the range to 0-100 so that it can be stacked with RSI indicator. 50 cross is the equivalent of zero cross in the original indicator.

PS: Drag and drop the indicator on RSI for stacking. Go to the settings and scale it to right.

More explanation on the original indicator:
Release Notes: After looking into CMF indicator equation, I realized that LazyBear's VAPI is identical to Chaikin's Money Flow. It seems, I am not the only one re-inventing the wheels :D

I changed the indicator name to Chaikin Money Flow (CMF) Percentage. I think CMF is the most useful volume-price-based indicator especially for detecting divergences.

Note that TV's built-in CMF is set to 20 length by default.

Usage Note:

Since this indicator includes close, high and low in its equation, it should be fine to measure divergences relative to candle high and low, altho candle close would be the ideal one. This is not the case in most other indicators such as RSI. In RSI, indicator's input source should match with price source, otherwise, you will find too many false divergences.
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Thank you for sharing.
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Thank you for hurting my brain in the morning sir.
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cI8DH Giorgioversace
@Giorgioversace, Your welcome my friend. It has caught 5 swings that RSI couldn't since 10k drop. It shows very reliable divergences.
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@hkh222, maybe 4 :D
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@hkh222,
lol.
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Example on the chart shows that this indicator is capturing more divergences than RSI.
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Krauser cI8DH
@hkh222, do you also use OBV and CMF? I personnaly use these 2 with RSI to spot and confirm divergences
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cI8DH Krauser
@Krauser, I tried them before but I didn't find them very useful. Out of Chaiking's 3 indicators, Chaikin Osc was more useful.
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@hkh222, Chaikin*
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