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

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

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

Chande Momentum Oscillator Technical Analysis and Forex Trading 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 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.

Forex Chande Momentum Oscillator Expert Advisor Setup

Forex Chande Momentum Oscillator Technical Analysis and Generating Signals

Buy Signal

This Oscillator measures the momentum of price.

Levels above Zero line are considered to be bullish/buy signals.

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

Buy Signal - Forex 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 downward price momentum.

Sell Signal - Forex Chande Momentum Oscillator Expert Advisor Setup