OPEN-SOURCE SCRIPT
Updated Chaikin Money Flow
Simple indicator, so there's not really much to enhance. This is a more colorful version of the built-in 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.
// 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.
Release Notes
Added optional Simple Moving Average.Release Notes
Update script to Pine Script v5, and redo the plot background to prevent "color bleed" near the zero line.Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.