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CMO on Array

Traders can use Amibroker AFL and Amibroker Data Feeder to apply the Chande Momentum Oscillator (CMO) on an array of data points. This technique allows for in-depth analysis of price momentum across various timeframes, helping traders make more accurate and well-informed trading decisions.

P = ParamField("Price field",-1);
PL = Param("Periods",14,4,45,1);

UpDay = Sum((P-Ref(P,-1))*(P>Ref(P,-1)),PL);
DownDay = Sum((Ref(P,-1)-P)*(P<Ref(P,-1)),PL);
ChMomOcs = 100 * ((UpDay-DownDay)/(UpDay+DownDay));

Plot(ChMomOcs,"CMO("+PL+")", ParamColor( "Color", colorCycle ), ParamStyle("Style") );
Plot(EMA( ChMomOcs,9),"", colorLightBlue);
PlotGrid(50, colorLightGrey);
PlotGrid(0, colorLightGrey);
PlotGrid(-50, colorLightGrey);

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