Chande momentum oscillator (CMO)
Gains against losses over N bars, on a −100 to 100 scale.
Formula
CMO = 100 × (Σ gains − Σ losses) ÷ (Σ gains + Σ losses)
How to read it
Above +50 overbought, below −50 oversold.
How to use it
Overbought and oversold readings plus a shift of momentum when it crosses zero.
Limitations
RSI's inputs without the smoothing, so it is jumpier.
In Kereon
Charts · Superchart. Default 9; lines at −50, 0 and +50.
Also called: chande, momentum oscillator.