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

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

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

Chandes Momentum Oscillator Analysis & Signals

Developed by Tushar Chande

Chande Momentum Oscillator measures momentum of a forex pair.

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

Calculation

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

The calculations are performed on un smoothed data. This allows for short-term extreme market movements to be less hidden. However, smoothing can still be applied to the Oscillator.

Chandes Momentum Oscillator Expert Advisor Setup

Chandes Momentum Oscillator Analysis & How to Generate Signals

Buy Signal

This Oscillator measures the momentum of price.

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

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

Buy Signal - Chande Momentum Oscillator Expert Advisor Setup

Sell Signal

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

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

Sell Signal - Chande Momentum Oscillator Expert Advisor Setup