Indicators: CMO
there is a mistake, it is also in the original indicator on mql4.com.
Line1Buffer[bar]=(SumBulls-SumBears)/(SumBulls+SumBears)*100;it is possible division by zero, if SumBulls+SumBears=0, hence the glitches when for unknown reasons the indicator chart is periodically not displayed.
I did it this way:
if ((SumBulls+SumBears)!=0.0)Line1Buffer[bar]=(SumBulls-SumBears)/(SumBulls+SumBears)*100;
Olegts:
We will fix this one!
there is a mistake, it is also in the original indicator on mql4.com
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CMO:
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