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Similar to the Chaikin Oscillator, the Chaikin Money Flow oscillator (CMF) is based upon the Accumulation/Distribution (ACDI) oscillator.
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This oscillator is based upon the assumption that when the Market is strong, it will close in the Upper Half of the daily range with increasing volume and thus the CMF oscillator will be positive. When markets are weak, they will close in the lower half of their daily range with increasing volume and the CMF oscillator will be negative. Since you will not get direct and immediate evidence of a change in trend, this works best as a backup and confirmation indicator to other studies. |
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