CHO - Chaikin Oscillator momentum of Accumulation-Distribution (MT4)

CHO - Chaikin Oscillator measures the momentum of the Accumulation-Distribution Line by subtracting a long EMA from a short EMA of A-D. It reacts faster than A-D itself and is great for zero line timing, divergence and breakout confirmation on MetaTrader 4.

What it shows

• Above zero: positive money flow momentum - favors longs.
• Below zero: negative money flow momentum - favors shorts.
• Divergence: price makes HH or LL while CHO lags or flips - reversal risk.
• Optional alerts on zero cross, signal cross or new oscillator swings.

Trade ideas

1. Trend plus zero cross: trade in trend direction when CHO crosses above zero for longs or below zero for shorts.
2. Breakout filter: require CHO to be on the confirming side of zero when you trade a breakout or retest.
3. Divergence trigger: divergence appears - wait for zero cross or CHO swing break to trigger.
4. Multi TF: use H1-H4 CHO as bias, time entries on M5-M15 when it flips with price.

Inputs that matter

• Fast EMA and Slow EMA for A-D smoothing.
• Optional Signal EMA of the oscillator itself.
• Alert filters for zero cross and swing highs or lows.
• Visual styles for histogram or line.

Suggested usage

• M5-M15: intraday timing and exit control.
• M30-H4: swing continuation and divergence checks.
• Daily+: regime bias and breakout validation.

Installation (MT4)

1. Open MetaTrader 4 - File - Open Data Folder.
2. Copy CHO.ex4 to MQL4/Indicators.
3. Restart MT4 or refresh Navigator and attach CHO - Chaikin Oscillator.
4. Adjust inputs - OK.

FAQ

Does it repaint? No on closed bars.
Direction or volume? CHO is derived from A-D and reflects money flow momentum.
Use in EAs? Yes, via iCustom.

Disclaimer: Always test on a demo first - risk management matters.