CMF T3 Indicator is the histogram version of the Chaikin Money Flow Index by Marc Chaikin. The idea behind CMF indicator lies in the combination of price and volume to show the money flow over for a set period. CMF default period is 21 days.
Hence, the formula CMF shows the sum of the values of the 21 period Accumulation / Distribution Line 21 divided by the sum of the volume over the chosen period:
sum ((((CL) – (HC)) / (HL)) * V) / sum
- C – Close
- L – Low
- H – High
- File: CMF_T3_v1.1.mq4
- Size: 3 Kb