Chande Oscillator
The Chande Oscillator, developed using Amibroker AFL and Amibroker data, is a versatile indicator for traders. It helps in identifying potential buy and sell signals by measuring the difference between two smoothed price averages. This oscillator can be customized to align with specific trading strategies and preferences.
_SECTION_BEGIN("chande_momentum_oscillator");
cmopds=20;
CMO_1=Sum( IIf( C > Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,cmopds ) ;
CMO_2=Sum( IIf( C < Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ,0 ) ,cmopds );
CMO=100 * (( CMO_1 -CMO_2) /( CMO_1+CMO_2));
Plot(Cmo,"CMO",IIf(cmo>Ref(cmo,-1),5,4),2|styleThick);
Plot(MA(Cmo,9),"Trigger",colorYellow);
Plot(50,"",15);
Plot(-50,"",15);
Title="CMO"+WriteVal(Cmo)+" Trigger"+WriteVal(MA(Cmo,9));
_SECTION_END();