Chande Momentum Oscillator (CMO) is one forex technical indicator used in forex technical analysis. This indicator is built using the sum over a certain period of price changes on up days.

Chande Momentum Oscillator (CMO) created by calculating the difference between the sum of all recent gains and the sum of all recent losses and then dividing the result by the sum of all price movement over the period.

The Chande Momentum indicator is a momentum oscillator. This oscillator can be used as a trading signal in two various ways.

The first method is to purchase when the oscillator crosses above its MA line and to sell when the oscillator crosses below its MA line. The second is to measure overbought or oversold levels for a certain currency.

This oscillator is similar to other momentum indicators such as the Relative Strength Index and the Stochastic Oscillator because it is range bounded (+100 and -100).

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From Investopedia:
A technical momentum indicator invented by the technical analyst Tushar Chande. It is created by calculating the difference between the sum of all recent gains and the sum of all recent losses and then dividing the result by the sum of all price movement over the period. (full article)

From Forexrealm:
The Chande Momentum indicator is a momentum oscillator. This oscillator can be used as a trading signal in two various ways. (full article)