It is a called
Chaikin Money Flow (CMF).
It is a winding line that oscillates between -1 and 1. It measures selling and buying pressure over time.
Here is how it looks:
The horizontal line indicates zero value. You can notice a portion of the curve above zero, and a portion below zero.
If it is above zero and closer to 1, there is a stronger buying pressure.
If it is below zero and closer to -1, there is a stronger selling pressure.
In normal circumstances, it will rarely go beyond 0.5 though.
I personally started to use this signal to feel more comfortable when deciding whether to buy or sell. I use it in combination with other indicators, never alone, as it can be tricky and misleading if not combined with other indicators.
How to Activate CMF?
On tradingview, you can do the following:
1. Go to the corresponding pair. For, BTC/USD go to, for example, https://www.tradingview.com/chart/?symbol=BITFINEX:BTCUSD
2. Click on Indicators and select Chaikin Money Flow, like it is shown in the image below:
3. You will get the CMF portion below the main chart, like in this image:
As a newcomer to the world of crypto-trading (and trading in general), this is still an unknown territory to me. Therefore, I would appreciate the input of the more experienced traders, especially:
Do you use it?
How you use it?
What other metrics do you use alongside with it?
Further reading:
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:chaikin_money_flow_cmf
https://www.tradingview.com/chart/BTCUSD/O0uZmSBg-Chaikin-Money-Flow-CMF/