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Chaikin Oscillator (CHO)

Overview

Developed by Marc Chaikin, the Chaikin Oscillator measures the momentum of the Accumulation Distribution Line using the MACD formula. This makes it an indicator of an indicator. The Chaikin Oscillator is the difference between the 3-day EMA of the Accumulation Distribution Line and the 10-day EMA of the Accumulation Distribution Line. Like other momentum indicators, this indicator is designed to anticipate directional changes in the Accumulation Distribution Line by measuring the momentum behind the movements. A momentum change is the first step to a trend change. Anticipating trend changes in the Accumulation Distribution Line can help chartists anticipate trend changes in the underlying security. The Chaikin Oscillator generates signals with crosses above/below the zero line or with bullish/bearish divergences.

Find the mathematical description of the indicator on the Chaikin Oscillator Mathematical Description page.

Adding indicator

Chaikin Oscillator indicator is added through the cho() method. It requires a mapping with four fields: "high", "low", "close" and "volume". The following sample demonstrates the Chaikin Oscillator indicator applied to a spline series which data values are equal to "close" values.

// create CHO indicator
cho = plot1.cho(mapping);
choSeries = cho.series();
choSeries.stroke("#bf360c");

Here is a live sample:

JsFiddle Playground

It is possible to change the series type any time using the seriesType() method.

Indicator parameters

The Chaikin Oscillator indicator has 5 parameters. The only necessary one is mapping. Optional parameters are fast period, slow period, moving averagae type and the series type. The following code sample creates an indicator with parameters set as default:

// create a CHO indicator with default parameters
cho = plot.cho(mapping, 3, 10, "ema", "line");

This line equals the following:

// create a CHO indicator with default parameters
cho = plot.cho(mapping);

Visualization

Visualization of an indicator depends on series type. Here is a sample with an adjusted Chaikin Oscillator indicator:

// create a CHO indicator with adjusted parameters
var cho = plot_1.cho(mapping, 10, 20, "sma").series();
cho.seriesType("area");
cho.fill("#E5BE01");
cho.stroke(null);

JsFiddle Playground