When the CMF is positive money flow favors the bulls and when the CMF is negative money flow favors the bears.
The Chaikin Money Flow is calculated as follows:
Money Flow Multiplier = (Close - Low) - (High - Close) / High - Low
Money Flow Volume = Money Flow Multiplier * Volume for the Period
20-period CMF = 20-period Sum of Money Flow Volume / 20-period Sum of Volume