In this version of Chande Momentum Oscillator the smoothed price is used for the calculations. It is allowed to improve the filter of trend direction.
Chande Momentum Oscillator (CMO) was developed by Tushar Chande and is a technical indicator that attempts to capture the Momentum. Chande discussed this and many other indicators in his book “The New Technical Trader: Boost Your Profit by Plugging into the Latest Indicators”. Тhe range of CMO is from -100 to 100. The values +50 and -50 are assumed as ovebought and oversold states of the market.
This indicator was first implemented in MQL4 and published in CodeBase at mql4.com 20.02.2008.
MT5 Indicator – Download Instructions
CMO is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
CMO provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install CMO.mq5?
- Download CMO.mq5
- Copy CMO.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on CMO.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator CMO.mq5 is available on your Chart
How to remove CMO.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: