What it does
Chaikin Money Flow (CMF) gauges buying versus selling pressure over a window, usually 20 or 21 bars, and oscillates roughly between +1 and -1. Each bar gets a multiplier based on where the close sits in the bar's range: closing near the high approaches +1, near the low approaches -1; that multiplier times volume is summed over the window and divided by total volume. Persistent closes near highs on good volume push CMF positive.
How to add it
Click Indicators (ƒx) in the header.
Search “Chaikin Money Flow” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Use the zero line for bias: CMF held above zero indicates sustained accumulation, below zero distribution.
- Filter breakouts: a resistance break with CMF clearly positive (above about +0.10) is better supported than one with flat or negative CMF.
- Trade divergences: price making lower lows while CMF makes higher lows suggests selling pressure is drying up.
- Treat readings beyond +0.25 or -0.25 as strong-pressure territory rather than automatic reversal levels.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Period | number | 20 | 1–200 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| CMF(20) | line | #43A047 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Reference levels
| Level | Value |
|---|---|
| 0 | 0 |
Level values, colors and line styles are editable in settings.
Tips
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
- Merge multiple oscillators into one pane from the legend ⋯ menu to compare them on a shared axis.
Watch out for
- The close-location math ignores gaps: a bar that gaps down but closes mid-range still counts as positive flow, which can mislead.
- It needs real volume data and hovers noisily around zero in low-conviction markets, inviting whipsaw reads.