The Chaikin Oscillator is formed by subtracting X-day exponential moving average from a Y-day exponential moving average of the accumulation/distribution line. Typical values of X and Y are (10, 3). The user may change the periods lengths. This indicator’s definition is further expressed in the condensed code given in the calculation below.
How To Trade Using the Chaikin Oscillator
No trading signals are calculated for this indicator
How To Access in MotiveWave
Go to the top menu, choose Study>Marc Chaikin>Chaikin Oscillator
or go to the top menu, choose Add Study, start typing in this study name until you see it appear in the list, click on the study name, click OK.
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//period1 = user defined, default = 3
//period2 = user defined, default = 10
//index = current bar number
prev = ifNull(0, ADL[index-1]); adl = prev + getVolume(index)*mfm(index); ema1 = ema(index, period1, ADL); ema2 = ema(index, period2, ADL); Plot: co = ema1 - ema2;