Chande Momentum Oscillator Oil Technical Analysis & Oil Trading Signals
Developed by Tushar Chande
Chande Momentum Oscillator measures momentum of a crude oil.
This Indicator uses a scale ranging between +100 & -100 thus allowing the oil 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 and down days in the numerator, thereby directly measuring momentum.
The calculations are performed on unsmoothed data. This allows for short-term extreme movements to be less hidden. However, smoothing can still be applied to the Oscillator.
Oil Technical Analysis and Generating Crude Oil Trading Signals
Buy Crude Oil Trading Signal
This Oscillator measures the momentum of crude crude oil trading price.
Levels above Zero line are considered to be bullish/buy oil signals.
The higher the indicator goes the higher the upward crude crude oil trading price momentum.
Buy Oil Trading Signal
Sell Crude Oil Trading Signal
Levels below Zero line are considered to be bearish/buy oil signals.
The lower the indicator goes the higher the downward crude crude oil trading price momentum.
Sell Oil Trading Signal