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Module of Trade Signals, based on Chande Momentum Oscillator - library for MetaTrader 5

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votes: 22
2011.08.08 19:23
2016.11.22 07:32

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:

  • CMO_period: 9;
  • CMO_Shift: 0;
  • Timeframe: D1;
  • Symbol: EURUSD;
  • Lot: 0.1;
  • Stop Loss, Take Profit, Trailing: not used.

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 system

Chande Momentum Oscillator

History backtesing results (from 01.01.2010):

History backtesting results

History backtesting results

Translated from Russian by MetaQuotes Software Corp.
Original code:

Chande Momentum Oscillator Chande Momentum Oscillator

Chande Momentum Oscillator (CMO) is a technical indicator that attempts to capture the Momentum.

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