Chande Momentum Oscillator Pro
CMO+ — Chande Momentum Oscillator with Filtered Signals & Divergences
This is a cleaner take on Tushar Chande’s Momentum Oscillator. It adds smoothing, a signal line, filtered entries, regular divergences and a full alert set.
How it works
The raw CMO (length 9) is smoothed with a short EMA (4) to cut noise without adding much lag. A WMA (12) of the smoothed CMO acts as the signal line. The oscillator is scaled to ±50 instead of the usual ±100, which keeps the extremes tight and easy to read.
The CMO line changes colour depending on whether it sits above or below the WMA, so you can see momentum direction at a glance.
Filtered LONG / SHORT signals
Crosses near the zero line happen constantly when there’s no real trend, and most of them are noise. This version only counts a cross when momentum has stretched first:
LONG: the CMO crosses above the WMA while at or below -10
SHORT: the CMO crosses below the WMA while at or above +10
Both thresholds are adjustable, and you can switch the filter off to see every cross.
Extreme levels
Upper and lower levels sit at +33 and -33 by default, with the zones shaded. An alert fires when the CMO pushes into either zone.
Regular divergences
Divergences are found from pivots on the CMO itself:
Bullish: price makes a lower low while the CMO makes a higher low
Bearish: price makes a higher high while the CMO makes a lower high
A divergence is confirmed a few bars after its pivot (set by “Pivot Lookback Right”). The line is drawn back to the actual pivot, but the signal itself does not repaint once printed.
Alerts
There are individual alerts for LONG, SHORT, Upper Level Hit, Lower Level Hit, Bullish Divergence and Bearish Divergence. You can also create a single alert using “Any alert() function call” and pick which types it sends in the settings. Alerts fire on bar close.
Customisation
Every length, level, colour, line width and line style can be changed. Lines default to thin for a clean chart.
This is a cleaner take on Tushar Chande’s Momentum Oscillator. It adds smoothing, a signal line, filtered entries, regular divergences and a full alert set.
How it works
The raw CMO (length 9) is smoothed with a short EMA (4) to cut noise without adding much lag. A WMA (12) of the smoothed CMO acts as the signal line. The oscillator is scaled to ±50 instead of the usual ±100, which keeps the extremes tight and easy to read.
The CMO line changes colour depending on whether it sits above or below the WMA, so you can see momentum direction at a glance.
Filtered LONG / SHORT signals
Crosses near the zero line happen constantly when there’s no real trend, and most of them are noise. This version only counts a cross when momentum has stretched first:
LONG: the CMO crosses above the WMA while at or below -10
SHORT: the CMO crosses below the WMA while at or above +10
Both thresholds are adjustable, and you can switch the filter off to see every cross.
Extreme levels
Upper and lower levels sit at +33 and -33 by default, with the zones shaded. An alert fires when the CMO pushes into either zone.
Regular divergences
Divergences are found from pivots on the CMO itself:
Bullish: price makes a lower low while the CMO makes a higher low
Bearish: price makes a higher high while the CMO makes a lower high
A divergence is confirmed a few bars after its pivot (set by “Pivot Lookback Right”). The line is drawn back to the actual pivot, but the signal itself does not repaint once printed.
Alerts
There are individual alerts for LONG, SHORT, Upper Level Hit, Lower Level Hit, Bullish Divergence and Bearish Divergence. You can also create a single alert using “Any alert() function call” and pick which types it sends in the settings. Alerts fire on bar close.
Customisation
Every length, level, colour, line width and line style can be changed. Lines default to thin for a clean chart.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.