Chande Momentum Oscillator EA Setup - Setting Up Chande Momentum Oscillator Expert Advisor

Chande Momentum Oscillator EA Setup - Setting Up Chande Momentum Oscillator EA - A trader can come up with an Chande Momentum Oscillator EA based on the Chande Momentum Oscillator indicator explained below.

Chande Momentum Oscillator EA rules can be combined with other Forex trading indicators to come up with other Expert Advisor Forex Robots that trade using rules based on two or more indicators combined to form a trading system.

Chande Momentum Oscillator Forex Trading Technical Analysis & Signals

Developed by Tushar Chande

Chande Momentum Oscillator measures momentum of a currency pair.

This Indicator uses a scale ranging between +100 and -100 thus allowing the trader to clearly see changes in net momentum using the 0 level mark as a balance point.

Calculation

Chande momentum uses data for both up days & down days in the numerator, thereby directly measuring momentum.

Calculations are performed on unsmoothed data. This allows for short-term extreme market movements to be less hidden. However, smoothing can still be applied to Oscillator.

Chande Momentum Oscillator EA Setup

Chande Momentum Oscillator Technical Analysis & Generating Forex Signals

Buy Trading Signal

This Oscillator measures the momentum of price.

Levels above Zeroline are considered to be bullish/buy signals.

The higher the indicator goes the higher the upward price momentum.

Buy Signal - Chande Momentum Oscillator EA Setup

Sell Signal

Levels below Zero line are considered to be bearish/sell signals.

The lower the indicator goes the higher the downward price momentum.

Sell Signal - Chande Momentum Oscillator EA Setup