Chandes Momentum Oscillator MT5 Indicator Analysis
Developed by Tushar Chande
Chandes Momentum Oscillator MT5 Indicator measures momentum of a currency pair.
This MT5 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.
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.
Technical Analysis & How to Generate Signals
Buy Signal
This Oscillator MT5 Indicator measures the momentum of price.
Areas above Zeroline are considered to be bullish/buy trading signals.
The higher the indicator goes the higher the upwards price momentum.
Buy Signal
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
