The 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.
The indicator uses the SmoothAlgorithms.mqh smoothing algorithms library (SmoothAlgorithms.mqh must be placed to terminal_data_folder\MQL5\Include), described in the article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/411
CoeffofLine indicator shows the most likely future price direction (2-3 bars).Keltner Channel
Keltner Channel is volatility-based envelopes set above and below an exponential moving average.
Crossover of overbought/oversold levels of Chande Momentum Oscillator is used as a signal to open positions.FTLM-STLM
Fast Trend Line Momentum (FTLM) and Slow Trend Line Momentum SLTM) indicators show the rate of price change.