Chande Momentum Oscillator

The Chande Momentum Oscillator sums every up-move and every down-move inside a fixed backward-looking window and expresses the net imbalance as a percentage of total movement: 100 times (sum of ups minus sum of downs) divided by (sum of ups plus sum of downs). Unlike RSI, which normalises this into a 0-100 range and loses the sign of net direction along the way, CMO keeps the sign - it runs -100 to +100 with a genuine zero crossing that marks the point where recent up-moves and down-moves are exactly balanced. The window used is a plain fixed slice ending at each bar, not a Wilder recursive smooth, so every bar's reading depends only on its own lookback and never on a chain of previously calculated bars. A window where total movement (ups plus downs) is exactly zero - every price in the window unchanged - has no defined ratio; this implementation returns zero for that bar rather than dividing by zero, a genuinely rare case documented here for completeness. Notes and limitations - Needs InpPeriod + 1 bars of history before it starts plotting. - A window with zero total movement is scored as zero rather than an undefined ratio - a documented simplification for a genuinely rare edge case. - This is an oscillator only - no signal-line smoothing, no alerts, no trade signals.

Indicator · MT5 · v1.0 · Free

Tags: RSI · Momentum · Oscillator · MT5 Indicator · MQL5 Source Code

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