The signals are formed at completed bars. Chande Momentum Oscillator is used as a custom indicator for module of trade signals. The Downward crossover of -50 level is a signal to open a long position, the upward crossover of 50 level is a signal to open short position.
The following input parameters were used when testing:
To use this module of trade signals in MQL5 Wizard, the chande_momentum_oscillatorsignal.mqh and basedonindicatorexpertsignal.mqh must be placed to terminal_data_folder\MQL5\Include\Expert\Signal\MySignals.
The module uses Chande Momentum Oscillator indicator, the chande_momentum_oscillator.mq5 must be placed to terminal_data_folder\MQL5\Indicators.
The SmoothAlgorithms.mqh must be placed to terminal_data_folder\MQL5\Include.
Chande Momentum Oscillator
History backtesing results (from 01.01.2010):
History backtesting results
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/444
Chande Momentum Oscillator (CMO) is a technical indicator that attempts to capture the Momentum.CoeffofLine
CoeffofLine indicator shows the most likely future price direction (2-3 bars).