The Chaikin Metatrader 4 indicator is a popular MT4 signals indicator that gauges the amount of money flow over a stipulated time frame.
The indicator can also give us insight as to whether the currency pair is under accumulation or distribution by considering the closing price to the high and low price of the market session.
The indicator does not offer a fixed minimum or maximum values, therefore its line is known to oscillate freely.
- In order to fully grasp how the market works and also obtain the right trading know-how, more attention should be accorded to the manner in which the blue line of the Chaikin Money Flow indicator is displaced in relation to the 0.00 horizontal level.
- The indicator’s default colors were altered to give us a better visual representation of changing trends. Consequently, the gray line was replaced with blue.
- The Chaikin indicator clearly measures the buying and selling pressures in the market, and gets affected by the price action and volume of the market.
- The Chaikin indicator performs optimally when in used with other technical tools like trend tools i.e. moving averages.
Feel free to explore the Chaikin Money Flow indicator’s different parameters and settings to create your own personalized indicator setup.
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Chaikin Money Flow Forex Indicator Chart (EUR/GBP M30 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Chaikin MT4 Indicator
Buy Signal: Go long when the blue line of the Chaikin MT4 indicator positions above the zero-horizontal level within the indicator’s sub-window. Plus, price bar opens and closes above the rising blue line of the 36 SMA indicator.
Sell Signal: Go short when the blue line of the Chaikin MT4 indicator runs below the zero-horizontal level within the indicator’s sub-window. Plus, price bar opens and closes below the falling blue line of the 36 SMA indicator.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Chaikin indicator’s blue line dips below the 0.00 signal-level. Else, a candlestick opens and closes below the 36 SMA indicator.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Chaikin indicator’s blue line surges above the 0.00 signal-level. Else, a candlestick opens and closes above the 36 SMA indicator.
Tips: The Chaikin Money Flow MT4 Indicator can be used alongside other technical indicators when formulating reliable and profitable forex trading systems.
Buying strength is firm in the market when the indicator’s reading stays positive, while the market’s selling pressure is strong when its reading remains negative.
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Fast EMA, slow ema, signal ema.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Oscillator
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.