Colored Chaikin Money Flow
The Chaikin Money Flow (CMF) is an indicator created by Marc Chaikin in the 1980s to monitor the accumulation and distribution of a stock over a specified period. The default CMF period is 21 days. The indicator readings range between +1 and -1. Any crosses above or below 0 can be used to confirm changes in money flow, as well as buying or selling momentum, but many traders look for divergences to predict trend reversal based on volume.
This indicator was developed not only to be used by manual traders but also to expert advisors that can read its color changing and requires fast calculations for optimized backtests.
THE CHAIKIN MONEY FLOW IS NOT A STANDALONE TOOL.
Color Buffer N° 1;
Colors: 0 - Red; 1 - Blue; 2 - Grey.