Strategy library · Volume
Chaikin Money Flow zero cross backtest on NQ and ES futures
Chaikin Money Flow (20) zero cross
Also called: Chaikin Money Flow strategy, CMF 20 strategy, CMF zero line, buy when Chaikin Money Flow 20 crosses above zero, short when Chaikin Money Flow 20 crosses below zero
What happens if you buy NQ every time Chaikin Money Flow 20 crosses above zero?
What it is
Chaikin Money Flow (CMF, 20 periods) measures buying and selling pressure from the close's position in the bar and the volume. This strategy goes long when the CMF crosses above 0, short when it crosses below, and exits on the opposite cross.
What it did
On NQ futures from 2024-10-08 to 2026-10-07, the Chaikin Money Flow zero cross strategy took 1,219 trades on the 15-minute chart, won 39.6% of them and finished -10,738.00 points (-$214,760 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, the 618 long trades on the 15-minute chart won 40.5% and made -3,907.50 points (-$78,150 on one NQ contract), before commission and slippage. On ES futures from 2024-08-28 to 2026-08-27, the Chaikin Money Flow zero cross strategy took 1,296 trades on the 15-minute chart, won 36.8% of them and finished -1,643.50 points (-$82,175 on one ES contract), before commission and slippage. The 5-minute, 1-hour and daily results for both markets are in the table on this page.
How it was tested
CE Market Solutions tested the Chaikin Money Flow zero cross strategy on NQ (2024-10-08 to 2026-10-07) and ES (2024-08-28 to 2026-08-27) futures, before commission and slippage, with each signal filled at the next bar's open, intraday positions flat at 15:59 ET and textbook default indicator settings; the NQ trades are listed on this page and the ES trades under the ES tab.
See it tested with one change · $19
Tested by CE Market Solutions on 2026-10-26. The trades are listed below, one market at a time. Gross, no commission or slippage. Last 2 years.
Results
Rule as tested: Long when CMF crosses above 0; short below. Exit: Opposite cross.
| Timeframe | NQ · 2024-10-08 to 2026-10-07 | ES · 2024-08-28 to 2026-08-27 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 NQ) | Max DD pts | Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 ES) | Max DD pts | |
| 5 minute | 3906 | 39.0% | 0.11 | 1.005 | 421.25 | $8,425 | 5,646.25 | 3723 | 37.9% | 0.20 | 1.049 | 760.50 | $38,025 | 987.50 |
| 5 minute · longs only | 1951 | 40.8% | — | — | 3,420.75 | $68,415 | 3,474.50 | 1854 | 38.7% | — | — | 307.75 | $15,388 | 528.25 |
| 5 minute · shorts only | 1955 | 37.1% | — | — | −2,999.50 | −$59,990 | 4,016.75 | 1869 | 37.1% | — | — | 452.75 | $22,638 | 598.00 |
| 15 minute | 1219 | 39.6% | −8.81 | 0.777 | −10,738.00 | −$214,760 | 12,104.25 | 1296 | 36.8% | −1.27 | 0.835 | −1,643.50 | −$82,175 | 1,831.50 |
| 15 minute · longs only | 618 | 40.5% | — | — | −3,907.50 | −$78,150 | 4,424.00 | 648 | 39.0% | — | — | −496.25 | −$24,812 | 830.75 |
| 15 minute · shorts only | 601 | 38.8% | — | — | −6,830.50 | −$136,610 | 8,806.25 | 648 | 34.6% | — | — | −1,147.25 | −$57,362 | 1,369.75 |
| 1 hour | 506 | 49.0% | 1.41 | 1.030 | 712.25 | $14,245 | 3,603.50 | 521 | 45.1% | 0.91 | 1.105 | 476.50 | $23,825 | 788.75 |
| 1 hour · longs only | 262 | 52.7% | — | — | 2,220.75 | $44,415 | 2,118.50 | 275 | 47.3% | — | — | 585.25 | $29,263 | 393.50 |
| 1 hour · shorts only | 244 | 45.1% | — | — | −1,508.50 | −$30,170 | 2,441.75 | 246 | 42.7% | — | — | −108.75 | −$5,437 | 513.75 |
| Daily | 48 | 29.2% | −162.98 | 0.591 | −7,823.25 | −$156,465 | 10,887.75 | 30 | 16.7% | −60.52 | 0.462 | −1,815.50 | −$90,775 | 1,864.25 |
| Daily · longs only | 24 | 37.5% | — | — | 283.50 | $5,670 | 3,667.25 | 15 | 26.7% | — | — | −69.50 | −$3,475 | 911.50 |
| Daily · shorts only | 24 | 20.8% | — | — | −8,106.75 | −$162,135 | 8,699.50 | 15 | 6.7% | — | — | −1,746.00 | −$87,300 | 1,759.00 |
Free to use with credit to CE Market Solutions (CC BY 4.0).
NQ 15 minute: the equity line
Long and short
| Side | Trades | Net pts |
|---|---|---|
| Long | 618 | −3,907.50 |
| Short | 601 | −6,830.50 |
By month
| Month | Trades | Net pts |
|---|---|---|
| 2024-10 | 40 | 233.50 |
| 2024-11 | 46 | 104.50 |
| 2024-12 | 45 | 42.50 |
| 2025-01 | 47 | −1,155.00 |
| 2025-02 | 44 | 1,041.25 |
| 2025-03 | 47 | 781.25 |
| 2025-04 | 41 | −2,500.50 |
| 2025-05 | 54 | −1,074.00 |
| 2025-06 | 65 | −650.25 |
| 2025-07 | 52 | −277.75 |
| 2025-08 | 50 | 247.75 |
| 2025-09 | 41 | −350.75 |
| 2025-10 | 61 | −647.50 |
| 2025-11 | 46 | −151.50 |
| 2025-12 | 76 | −869.00 |
| 2026-01 | 38 | 801.00 |
| 2026-02 | 51 | −1,133.75 |
| 2026-03 | 60 | −1,087.25 |
| 2026-04 | 46 | 1,277.25 |
| 2026-05 | 46 | −448.75 |
| 2026-06 | 53 | −1,799.25 |
| 2026-07 | 55 | −1,196.50 |
| 2026-08 | 62 | −1,138.75 |
| 2026-09 | 50 | −899.50 |
| 2026-10 | 3 | 113.00 |
Every trade, NQ 15 minute1219 trades
Pick any of the 1219 charted trades with Previous, Next or a date, or click a row in the trades table below, to see it drawn on the real 1-minute bars. Drag the chart sideways to move through the sessions around it.
Chart unavailable. The trades are in the table below.
All trades (1219), newest first
Times are New York time; points are gross. Click a row to draw that trade in the chart above.
| Session date | Side | Entry (ET) | Entry price | Exit (ET) | Exit price | Exit reason | Points |
|---|---|---|---|---|---|---|---|
| 2026-05-15 | long | 14:45 | 29376.25 | 15:59 | 29231.25 | end of day 15:59 | −145.00 |
| 2026-05-15 | short | 14:30 | 29385.50 | 14:45 | 29376.25 | opposite cross | 9.25 |
| 2026-05-15 | long | 13:15 | 29362.50 | 14:30 | 29385.50 | opposite cross | 23.00 |
| 2026-05-15 | short | 09:45 | 29167.00 | 13:15 | 29362.50 | opposite cross | −195.50 |
| 2026-05-14 | long | 15:00 | 29709.00 | 15:59 | 29686.75 | end of day 15:59 | −22.25 |
| 2026-05-14 | short | 14:45 | 29672.75 | 15:00 | 29709.00 | opposite cross | −36.25 |
| 2026-05-14 | long | 10:15 | 29583.00 | 14:45 | 29672.75 | opposite cross | 89.75 |
| 2026-05-14 | short | 10:00 | 29542.00 | 10:15 | 29583.00 | opposite cross | −41.00 |
| 2026-05-14 | long | 09:45 | 29625.50 | 10:00 | 29542.00 | opposite cross | −83.50 |
| 2026-05-13 | long | 10:15 | 29172.00 | 15:59 | 29476.00 | end of day 15:59 | 304.00 |
| 2026-05-12 | short | 14:45 | 28979.50 | 15:59 | 29174.25 | end of day 15:59 | −194.75 |
| 2026-05-12 | long | 14:15 | 28946.75 | 14:45 | 28979.50 | opposite cross | 32.75 |
| 2026-05-12 | short | 12:30 | 28839.50 | 14:15 | 28946.75 | opposite cross | −107.25 |
| 2026-05-12 | long | 12:15 | 28908.75 | 12:30 | 28839.50 | opposite cross | −69.25 |
| 2026-05-12 | short | 11:30 | 28875.75 | 12:15 | 28908.75 | opposite cross | −33.00 |
| 2026-05-07 | short | 15:30 | 28611.75 | 15:59 | 28684.25 | end of day 15:59 | −72.50 |
| 2026-05-07 | long | 10:00 | 28781.50 | 15:30 | 28611.75 | opposite cross | −169.75 |
| 2026-05-07 | short | 09:45 | 28741.50 | 10:00 | 28781.50 | opposite cross | −40.00 |
| 2026-05-04 | short | 15:45 | 27768.25 | 15:59 | 27780.25 | end of day 15:59 | −12.00 |
| 2026-04-30 | long | 11:00 | 27359.25 | 15:59 | 27577.50 | end of day 15:59 | 218.25 |
| 2026-04-29 | long | 09:45 | 27180.25 | 15:59 | 27337.25 | end of day 15:59 | 157.00 |
| 2026-04-28 | long | 09:45 | 27214.00 | 15:59 | 27169.25 | end of day 15:59 | −44.75 |
| 2026-04-27 | long | 10:00 | 27402.25 | 15:59 | 27445.00 | end of day 15:59 | 42.75 |
| 2026-04-27 | short | 09:45 | 27388.00 | 10:00 | 27402.25 | opposite cross | −14.25 |
| 2026-04-23 | short | 13:15 | 26947.00 | 15:59 | 26926.25 | end of day 15:59 | 20.75 |
| 2026-04-22 | long | 10:00 | 26864.25 | 15:59 | 27080.00 | end of day 15:59 | 215.75 |
| 2026-04-21 | short | 12:00 | 26733.00 | 15:59 | 26642.25 | end of day 15:59 | 90.75 |
| 2026-04-21 | long | 11:45 | 26734.50 | 12:00 | 26733.00 | opposite cross | −1.50 |
| 2026-04-21 | short | 11:30 | 26723.25 | 11:45 | 26734.50 | opposite cross | −11.25 |
| 2026-04-21 | long | 11:15 | 26761.25 | 11:30 | 26723.25 | opposite cross | −38.00 |
| 2026-04-21 | short | 11:00 | 26737.75 | 11:15 | 26761.25 | opposite cross | −23.50 |
| 2026-04-21 | long | 10:00 | 26838.75 | 11:00 | 26737.75 | opposite cross | −101.00 |
| 2026-04-20 | long | 15:30 | 26727.50 | 15:59 | 26745.75 | end of day 15:59 | 18.25 |
| 2026-04-20 | short | 09:45 | 26750.00 | 15:30 | 26727.50 | opposite cross | 22.50 |
| 2026-04-17 | short | 15:15 | 26766.75 | 15:59 | 26827.25 | end of day 15:59 | −60.50 |
| 2026-04-16 | short | 15:45 | 26469.00 | 15:59 | 26484.75 | end of day 15:59 | −15.75 |
| 2026-04-16 | long | 10:15 | 26357.25 | 15:45 | 26469.00 | opposite cross | 111.75 |
| 2026-04-16 | short | 09:45 | 26395.25 | 10:15 | 26357.25 | opposite cross | 38.00 |
| 2026-04-15 | long | 10:15 | 26090.50 | 15:59 | 26364.25 | end of day 15:59 | 273.75 |
| 2026-04-15 | short | 09:45 | 25990.00 | 10:15 | 26090.50 | opposite cross | −100.50 |
| 2026-04-14 | long | 09:45 | 25748.25 | 15:59 | 26000.75 | end of day 15:59 | 252.50 |
| 2026-04-13 | long | 10:00 | 25306.75 | 15:59 | 25538.25 | end of day 15:59 | 231.50 |
| 2026-04-13 | short | 09:45 | 25182.25 | 10:00 | 25306.75 | opposite cross | −124.50 |
| 2026-04-10 | long | 15:45 | 25277.00 | 15:59 | 25284.25 | end of day 15:59 | 7.25 |
| 2026-04-10 | short | 15:30 | 25295.25 | 15:45 | 25277.00 | opposite cross | 18.25 |
| 2026-04-10 | long | 13:45 | 25253.50 | 15:30 | 25295.25 | opposite cross | 41.75 |
| 2026-04-10 | short | 13:30 | 25232.75 | 13:45 | 25253.50 | opposite cross | −20.75 |
| 2026-04-10 | long | 13:00 | 25265.50 | 13:30 | 25232.75 | opposite cross | −32.75 |
| 2026-04-10 | short | 12:45 | 25227.75 | 13:00 | 25265.50 | opposite cross | −37.75 |
| 2026-04-10 | long | 12:15 | 25293.25 | 12:45 | 25227.75 | opposite cross | −65.50 |
Questions and answers
What happens if you buy NQ every time Chaikin Money Flow 20 crosses above zero?
From 2024-10-08 to 2026-10-07 on the NQ 15-minute chart, the Chaikin Money Flow zero cross strategy took 618 long trades, won 40.5% of them and made -3,907.50 points (-$78,150 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, its long trades also made 3,420.75 points on 1,951 trades on the 5-minute chart, 2,220.75 points on 262 trades on the 1-hour chart and 283.50 points on 24 trades on the daily chart, before commission and slippage.
What happens if you short ES every time Chaikin Money Flow 20 crosses below zero?
From 2024-08-28 to 2026-08-27 on the ES 15-minute chart, the Chaikin Money Flow zero cross strategy took 648 short trades, won 34.6% of them and made -1,147.25 points (-$57,362 on one ES contract), before commission and slippage. From 2024-08-28 to 2026-08-27 on ES, its short trades also made 452.75 points on 1,869 trades on the 5-minute chart, -108.75 points on 246 trades on the 1-hour chart and -1,746.00 points on 15 trades on the daily chart, before commission and slippage.
Does the Chaikin Money Flow zero cross strategy work on Nasdaq futures?
On NQ futures from 2024-10-08 to 2026-10-07, the Chaikin Money Flow zero cross strategy on the 15-minute chart took 1,219 trades, won 39.6% of them and finished -10,738.00 points (-$214,760 on one NQ contract), before commission and slippage.
What is the win rate of Chaikin Money Flow (20) zero cross on ES futures?
The Chaikin Money Flow zero cross strategy won 36.8% of its 1,296 trades on the ES 15-minute chart from 2024-08-28 to 2026-08-27, before commission and slippage. On ES from 2024-08-28 to 2026-08-27 it also won 37.9% of 3,723 trades on the 5-minute chart, 45.1% of 521 trades on the 1-hour chart and 16.7% of 30 trades on the daily chart, before commission and slippage.
Is the Chaikin Money Flow zero cross strategy better on the 5-minute, 15-minute, 1-hour or daily chart for NQ?
On NQ from 2024-10-08 to 2026-10-07, the Chaikin Money Flow zero cross strategy made 421.25 points on 3,906 trades on the 5-minute chart, -10,738.00 points on 1,219 trades on the 15-minute chart, 712.25 points on 506 trades on the 1-hour chart and -7,823.25 points on 48 trades on the daily chart, before commission and slippage.
Is it better to only buy or only sell Chaikin Money Flow zero cross signals on NQ?
On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the long trades made -3,907.50 points on 618 trades (40.5% won) and the short trades made -6,830.50 points on 601 trades (38.8% won), before commission and slippage.
How many trades does the Chaikin Money Flow zero cross strategy take on NQ in two years?
The Chaikin Money Flow zero cross strategy took 1,219 trades on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 it also took 3,906 on the 5-minute chart, 506 on the 1-hour chart and 48 on the daily chart, before commission and slippage.
What is the max drawdown of the Chaikin Money Flow zero cross strategy on NQ?
The Chaikin Money Flow zero cross strategy had a max drawdown of 12,104.25 points ($242,085 on one NQ contract) on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 its max drawdown was also 5,646.25 points on the 5-minute chart, 3,603.50 points on the 1-hour chart and 10,887.75 points on the daily chart, before commission and slippage.
How does the Chaikin Money Flow zero cross strategy do on ES compared with NQ?
On the ES 15-minute chart from 2024-08-28 to 2026-08-27, the Chaikin Money Flow zero cross strategy took 1,296 trades, won 36.8% of them and made -1,643.50 points (-$82,175 on one ES contract), before commission and slippage. On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the Chaikin Money Flow zero cross strategy took 1,219 trades, won 39.6% of them and made -10,738.00 points (-$214,760 on one NQ contract), before commission and slippage.
How these were run
- Gross: no commission and no slippage.
- The last 2 years of each market, from the first to the last session of its window.
- A signal on a closed bar fills at the next bar’s open.
- A stop and a target touched in the same minute count as the stop.
- Intraday positions are flat at 15:59 ET.
- Textbook TradingView default settings for every indicator; nothing is tuned.
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