How to Add Chaikin Money Flow Indicator on MetaTrader 4 Charts
Step 1: Open Navigator Window Panel on FX Trading Platform
Open Navigator window as shown & illustrated below: Go to "View" menu (click on it), then select "Navigator" window (click), or From Standard Tool Bar click the "Navigator" button or press keyboard short cut keys "Ctrl+N"
On Navigator window, select 'Technical Indicators', (DoubleClick)
How to Add Chaikin Money Flow Indicator on MetaTrader 4 - MT4 Chaikin Money Flow Technical Indicator
Step 2: Expand the Indicators Menu on the Navigator - Adding Chaikin Money Flow MT4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Chaikin Money Flow forex chart indicator from this list of forex indicators so as to add the Chaikin Money Flow indicator on the forex chart.
How to Add Chaikin Money Flow Indicator - From the Above window you can then place Chaikin Money Flow indicator that you want on the Forex chart
How to Add Custom Chaikin Money Flow Indicator to MT4
If the technical indicator you want to add is a custom indicator - for example if the Chaikin Money Flow technical indicator you want to add is a custom indicator you will need to first add this custom Chaikin Money Flow indicator on the MetaTrader 4 platform & then compile custom Chaikin Money Flow indicator so that the newly added Chaikin Money Flow custom indicator pops up on the list of custom indicators in MetaTrader 4 software.
To learn how to install Chaikin Money Flow indicators on MT4, how to add Chaikin Money Flow indicator window to MT4 and how to add Chaikin Money Flow custom indicator in MT4 - How to add a custom Chaikin Money Flow indicator on MetaTrader 4.
About Chaikin Money Flow Technical Indicator Described
Chaikin Money Flow Technical Analysis & Money Flow Signals
Developed by Marc Chaikin
This an oscillator which measure the Accumulation/distribution of money that is flowing into and out of a currency pair.
The indicator is based on the fact that the nearer the closing price is to the high of the price, the more the accumulation of the currency pair.
Also the nearer the closing price is to the low of the price, the more the distribution of the currency pair.
Chaikin Money Flow will be positive if price consistently closes above the bar's midpoint with increasing volume.
However, if price consistently closes below the bar's midpoint with increasing volume the indicator will be negative.
FX Technical Analysis & Generating Signals
Buy Trading Signal
A crossover of above zero signifies accumulation of a currency pair. A value of above +10 is a buy/bullish trading signal. Values above +20 signify a strong upwards trending market.
Buy Forex Signal
Sell Trading Signal
A Zero line cross of below zero signifies distribution of a currency pair. A value of below -10 is a short/sell signal. Values below -20 signify a strong downward trending market.
Sell Forex Signal
Trend Line break with Chaikin’s money Flow
The money flow can be used to confirm trend line breaks out or support/resistance level breaks-out.
If price breaks an upward trend line, Forex traders should then wait for a confirmation signal from the indicator values of below -10.
Trend Line Break - Sell Signal
If price breaks an downward trend line, Forex traders should then wait for a confirmation signal from indicator values of above +10.
Trend Line Break - Buy Signal
FX Divergence Forex Trading
A divergence between this indicator & price often signals a pending reversal in market direction. However as with all divergences its best to wait for confirmation signals before trading the divergence.
A bullish divergence signal forms when price makes a lower low while the Chaikin's Money Flow makes higher low.
A bearish divergence signal forms when the price makes higher high while the Chaikins Money Flow technical indicator makes a lower high.
