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Chande Momentum Oscillator

The Chande Momentum Oscillator (CMO), developed by Tushar Chande, is a momentum oscillator which incorporates concepts from the linear regression. This indicator was published in his book titled “New Concepts in Technical Trading” in the mid 90’s.

The CMO enters into overbought territory at +50, and oversold territory at -50. Traders can create buy/sell triggers based on a moving average of the CMO.

Buy script

Sell script

Additional notes

CMO is a predefined function in the Tradescript.