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Chaikin Money Flow - Library

Library "Chaikin Money Flow"

cmf()

Developed by Marc Chaikin, Chaikin Money Flow measures the amount of Money Flow Volume over a specific period.
Money Flow Volume forms the basis for the Accumulation Distribution Line. Instead of a cumulative total of
Money Flow Volume , Chaikin Money Flow simply sums Money Flow Volume 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 Chaikin Money Flow . Chartists can
also look for crosses above or below the zero line to identify changes on money flow .

The Accumulation Distribution Line was developed by Marc Chaikin to measure the cumulative flow of money into and
out of an index or security. The Accumulation/Distribution Line can be compared to the OBV ( On Balance Volume ),
which adds or subtracts volume depending on the closing price. Marc Chaikin chose a different approach, instead
of relying on the closing price, he used CLV (Close Location Value).

Pine library

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.

Disclaimer

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