Thanks Nicolas. The following is from Sharescope:
“The Chande Momentum Oscillator (CMO), developed by Tushar Chande, compares the size of recent positive and negative price changes over a period set by the user. The CMO tries to show ‘pure momentum’ by using unsmoothed data for both up and down days (other oscillators tend to use only up or down day data). This means that short-term price movements are not hidden and the oscillator provides a direct measurement of momentum. The indicator range is +100 to -100, and generally, the CMO has an overbought level of +50 and an oversold level of -50.
The calculation for CMO is:
(U – D / U + D) * 100
Where:
U = the sum of the differences between each up day’s close and its previous day’s close in the period.
D = the sum of the differences between each down day’s close and its previous day’s close in the period. Where a difference is negative, it should still be used as a positive number in the calculation (e.g. -1 would appear as 1 in the calculation).
Up days are where the current day’s close is higher than the previous close. Down days occur when the current day’s close is lower than the previous close. Days where the price is unchanged are ignored.”
I’m not sure if this helps? Thanks for your efforts!
Paul
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