Chaikin Money Flow

This indicator provides an implementation of the classic Chaikin Money Flow (CMF), a volume-weighted oscillator designed to measure money flow pressure. It is enhanced with a customizable signal line and a built-in divergence detection engine.

Key Features:

Full Divergence Suite (Class A, B, C): The primary feature is the integrated divergence engine. It automatically detects and plots all three major types of divergences:

Regular (A): Signals potential trend reversals.

Hidden (B): Signals potential trend continuations.

Exaggerated (C): Signals weakness at double tops/bottoms.

Divergence Filtering and Visualization:

Price Tolerance Filter: Divergence detection is enhanced with a percentage-based price tolerance (pivPrcTol) to filter out insignificant market noise, leading to more robust signals.

Persistent Visualization: Divergence markers are plotted for the entire duration of the signal and are visually anchored to the CMF level of the confirming pivot.

Customizable Signal Line: Includes an optional moving average of the CMF, which serves as a signal line. The type of MA (Signal Smoothing) and its length can be customized. This signal line can also be optionally volume-weighted (Volume weighted).

Note on Confirmation (Lag): Divergence signals rely on a pivot confirmation method to ensure they do not repaint.

The Start of a- divergence is only detected after the confirming pivot is fully formed (a delay based on Pivot Right Bars).

The End of a divergence is detected either instantly (if the signal is invalidated by price action) or with a delay (when a new, non-divergent pivot is confirmed).

Multi-Timeframe (MTF) Capability:

MTF CMF & Signal Lines: The CMF and its signal line can be calculated on a higher timeframe, with standard options to handle gaps (Fill Gaps) and prevent repainting (Wait for...).

Limitation: The Divergence detection engine (pivDiv) is disabled if a timeframe other than the chart's timeframe is selected. Divergences are only calculated on the active chart timeframe.

Integrated Alerts: Includes 16 comprehensive alerts for:

The start and end of all 6 divergence types.

The CMF crossing its signal line.

The CMF crossing the zero line.

DISCLAIMER

For Informational/Educational Use Only: This indicator is provided for informational and educational purposes only. It does not constitute financial, investment, or trading advice, nor is it a recommendation to buy or sell any asset.

Use at Your Own Risk: All trading decisions you make based on the information or signals generated by this indicator are made solely at your own risk.

No Guarantee of Performance: Past performance is not an indicator of future results. The author makes no guarantee regarding the accuracy of the signals or future profitability.

No Liability: The author shall not be liable for any financial losses or damages incurred directly or indirectly from the use of this indicator.

Signals Are Not Recommendations: The alerts and visual signals (e.g., crossovers) generated by this tool are not direct recommendations to buy or sell. They are technical observations for your own analysis and consideration.