Chaikin MF% (CMFP) w. Alerts, Bells & Whistles

The Chaikin MF% (CMFP) w. Alerts, Bells & Whistles indicator provides a modified version of Chaikin’s Money Flow scaled to a 0-100 range, designed to help traders identify trend direction, momentum shifts, and potential price reversals.

Usage

The indicator can be used to gauge money flow momentum and identify specific entry/exit zones based on volume-weighted price action.

• Momentum Analysis: Use the signal line and moving averages to identify the prevailing trend. Values above 50 generally indicate bullish money flow, while values below 50 indicate bearish pressure.
• Reversal Identification: The "Big Swing" markers highlight rapid shifts in money flow, which often precede price reversals.
• Signal Line Crossovers: Buy/Sell signals can be generated when the CMFP line crosses back from extreme overbought or oversold levels (user-defined).
• MA Pivot Signals: The indicator tracks pivots in the slow moving average relative to specific threshold levels to identify broader trend shifts.
• Histograms: The histograms provide a visual representation of the distance between the signal line and its averages, offering insights into trend strength.

Details

This script is built upon the Volume Accumulation Percentage Indicator (VAPI) concept. It scales the traditional Chaikin Money Flow (which typically ranges from -1 to 1) into a 0-100 percentage format. This adjustment makes the indicator easier to stack with other oscillators like the RSI and simplifies the identification of fixed overbought/oversold thresholds.

The tool incorporates multiple analysis layers, including a fast EMA and a slow SMA. The default calculation length is set to 10 periods to provide a faster response compared to the standard 20-period CMF, making it suitable for more sensitive momentum tracking.

Settings

Main Calculations

• Signal Length: The number of bars used to calculate the core Chaikin Money Flow percentage.
• Fast EMA Length: The period for the fast exponential moving average.
• Slow MA Length: The period for the slow simple moving average.

Visual Options

• Show CMFP Signal/Fast EMA/Slow MA: Toggles the visibility of individual lines.
• Show Histograms: Enables visual histograms for the Signal-Fast EMA spread or the Slow MA position.
• Show Crosses: Toggles markers for Signal/Fast MA, Signal/Slow MA, or Fast/Slow MA crossovers.

Signals and Alerts

• Show Big Swings: Enables markers for significant single-bar changes in the CMFP.
• Big Swing Delta: Defines the minimum percentage change required to trigger a big swing marker.
• Signal Buy/Sell Levels: Sets the threshold levels for the signal line crossover alerts.
• Slow MA Buy/Sell Pivot: Sets the lookback length and levels for pivot-based signals on the slow moving average.

FAQ

How do I interpret the 0-100 scale?

The 50 level acts as the midpoint. Values rising above 50 indicate increasing accumulation, while values falling below 50 indicate increasing distribution.

Are the buy/sell labels intended as direct trade signals?

They are best viewed as pointers to potentially interesting areas on the chart rather than standalone signals. They are particularly effective for identifying potential reversal areas when optimized for specific instruments.

How can I access Chaikin MF% (CMFP) w. Alerts, Bells & Whistles?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.