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Chande Momentum Oscillator (CMO) Forex Indicator

    The Chande Momentum Oscillator (CMO) indicator for MetaTrader 4 was developed by Tushar Chande and is deployed in measuring “pure momentum.”

    The CMO_v1 indicator is quite similar to momentum indicators like the Relative Strength Index, Stochastic and Rate of Change, but its enhanced and exclusive features makes it a convenient tool in the trader’s arsenal.

    Free Download

    Download the “CMO_v1.ex4” MT4 indicator

    Example Chart


    The sole purpose for the CMO_v1 indicator is in being able to spot overbought and oversold conditions in the market.

    The indicator is quite easy to interpret; with its readings held up in a band between -100 and +100, which makes its analysis quite similar to the Relative Strength Index.

    As such reading above 50 are considered as being overbought, while values below -50 represents an oversold condition.

    As we all know, oversold and overbought conditions tend to pave the way for price reversals, thereby generating entry signals.

    There are situations in the market where traders tend to use the CMO_v1 indicator to confirm potential trends.

    Traders tend to initiate positions when the CMO_v1 indicator has a high reading and exit such position(s) when the indicator moves below a particular threshold.

    If a forex pair’s price action or another technical studies depicts trend, but the CMO_v1 indicator reveals a choppy or sideways market (when the CMO_v1 values range between -25 and 25), it is a signal depicting a lack of momentum.


    Download the “CMO_v1.ex4” MT4 indicator

    MT4 Indicator Characteristics

    Currency pairs: Any

    Platform: Metatrader 4

    Type: chart window indicator

    Customization options: Variable (Length, Price), Colors, width & Style.

    Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

    Type: momentum oscillator, trend

    How to install the Chande Momentum Oscillator custom indicator in Metatrader 4?

    • Download the Chande Momentum Oscillator indicator to your computer.
    • Open your Metatrader 4 platform.
    • Open the data folder from the top menu.
    • Open the MQL4 folder.
    • Open the indicators folder.
    • Paste the indicator file in this folder.
    • Restart the trading platform.
    • Open any trading chart.
    • Attach the indicator to the chart.