In this version of Chande Momentum Oscillator the smoothed price is used for the calculations. It is allowed to improve the filter of trend direction.
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.
Author: Nikolay Kositsin