Chande Oscillator for Metatrader 4 - indicador para MetaTrader 4

This custom indicator is designed to plot the Chande Momentum Oscillator on any chart and time frame in Metatrader 4.

The Chande Momentum Oscillator (CMO) is a price momentum technical indicator invented by Tushar Chande. Chande introduced the indicator in his 1994 book “The New Technical Trader”. This indicator is created by calculating the difference between the sum of all recent gains and the sum of all recent losses in the analyzed market, and dividing the result by the sum of all price movements during the period.

As a momentum oscillator, it belongs to the same group as indicators such as RSI, ROC, Stochastic Oscillator, CCI and Williams %R, which are designed to measure the rate of change in price series, in order to detect trend variations of greater or lesser amplitude.

The Chande momentum oscillator formula is:

CMO = 100 x ((Su – Sd) / (Su + Sd))

Where:

Su = Sum of price differences in bullish periods.

Sd = Sum of price differences in bearish periods.

Like other oscillators, the Chande indicator offers the following signals:

The parameters that we can modify in the indicator are the following:

• Price Applied in the Calculation: Here we can use the closing price, opening price, maximum price, minimum price, median price, typical price and weighted price.
• Chande Oscillator Period: In this parameter we can indicate the calculation period of the oscillator. The default value is 20.
• Oscillator Moving Average Period: It is the calculation period of the Chande moving average.
• Moving Average Calculation Method: Here we indicate the type of moving average used to calculate the average of the Chande oscillator.

A Dashboard RSI Oscillator Signals Indicator can be accessed at: RSI Signals Dashboard for MT4