Chaikin Money Flow (CMF) - Indicator Formula

When the CMF is positive money flow favors the bulls and when the CMF is negative money flow favors the bears.

The Chaikin Money Flow is calculated as follows:

Money Flow Multiplier = (Close - Low) - (High - Close) / High - Low

Money Flow Volume = Money Flow Multiplier * Volume for the Period

20-period CMF = 20-period Sum of Money Flow Volume / 20-period Sum of Volume