Developed by Marc Chaikin, measures the amount of over a specific period.
forms the basis for the Line. Instead of a cumulative total of
, simply sums for a specific look-back period, typically
20 or 21 days. The resulting indicator fluctuates above/below the zero line just like an oscillator. Chartists
weigh the balance of buying or selling pressure with the absolute level of . Chartists can
also look for crosses above or below the zero line to identify changes on .
The Line was developed by Marc Chaikin to measure the cumulative flow of money into and
out of an index or security. The Line can be compared to the OBV ( ),
which adds or subtracts depending on the closing price. Marc Chaikin chose a different approach, instead
of relying on the closing price, he used CLV (Close Location Value).
In true TradingView spirit, the author has published this Pine code as an open-source library so that other Pine programmers from our community can reuse it. Cheers to the author! You may use this library privately or in other open-source publications, but reuse of this code in a publication is governed by House Rules.
Copy the following line and paste it in your script.