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.
Nota Keluaran
⋅
Added optional Simple Moving Average.
Nota Keluaran
⋅
Update script to Pine Script v5, and redo the plot background to prevent "color bleed" near the zero line.
Thank you! This is great. Quick follow up question about something I don't see in your notes: How exactly are you using the added SMA? Is it meant only to smooth out the CMFI or is it meant to also have a crossover function? Thanks again :)