SC MTF Chande Momentum for MT5 with alert
- Indicators
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Krisztian Kenedi
MQL4 / MQL5 Developer | TrueTL Project Founder (since 2011)
I have been developing professional trading tools and custom algorithms since 2011. - Version: 5.35
Chande Momentum Oscillator (CMO) indicator with multi-timeframe support, customizable visual signals, and configurable alert system.
Freelance programming services, updates, and other TrueTL products are available on my MQL5 profile.
Feedback and reviews are highly appreciated!
What is CMO?
The Chande Momentum Oscillator (CMO) was developed by Tushar Chande and measures the sum of recent gains minus the sum of recent losses, divided by the total sum of all price movement over a given period, scaled to a -100 to +100 range. It is closely related to RSI but uses a different normalization approach.
CMO values above +50 indicate strong upward momentum (overbought), while values below -50 indicate strong downward momentum (oversold). The zero line acts as a bull/bear threshold. Divergences between CMO and price are commonly used to anticipate reversals.
Features:
- Visual signal markers with arrows and vertical lines
- Three independent signal buffers with configurable triggers
- Signal detection options: direction change, level cross, peak/valley
- Configurable alert functions for each signal (email, push, sound, popup)
- Multi-timeframe (MTF) capability with interpolation methods
- Histogram or line drawing mode
- Multiple color modes (simple, direction-based, level-based)
- Custom indicator call (iCustom) buffer access for Expert Advisor (EA) integration
Input Parameters:
- Basic Settings:
- CMO period: Number of bars used for the momentum calculation (default: 14).
- Applied price: Price type used in the calculation (default: Close).
- CMO bar shift: Offset the line drawing by a specified number of bars.
- CMO timeframe: Choose the timeframe for MTF display.
- MTF on higher TF only: Restrict MTF display to timeframes higher than the current chart.
- MTF Interpolation mode: Select smoothing method (Off, Linear, Smooth, Weighted, Simple Moving Average).
- Maximum bars to calculate: Limit the number of bars calculated for performance optimization.
- Levels Settings:
- Show levels: Toggle overbought/oversold level line visibility.
- High level (overbought): Upper threshold value (default: 50).
- Low level (oversold): Lower threshold value (default: -50).
- Show middle level: Toggle the zero midpoint level line.
- Level appearance: Customize color, style, and width.
- Signal Settings:
- Signal 1/2/3 trigger: Configure detection type (direction change, level cross, peak/valley).
- Visual markers: Enable arrows and vertical lines with customizable size, style, and position.
- Arrow customization: Set Wingdings codes and colors for up/down signals.
- Alert Settings:
- Alert timing: Choose when alerts trigger (Off, After close, Before close, Both).
- Alert interval limit: Set minimum minutes between repeated alerts.
- Time range filter: Restrict alerts to specific hours.
- Delivery methods: Enable email, push, popup, and sound notifications.
- Color and Style Settings:
- Color mode: Select from multiple modes (simple, direction-based, level-based).
- Histogram mode: Switch between line and histogram display.
- Line appearance: Customize colors (4 per line), style, and width.
