Description
Chande Momentum Oscillator is an indicator reflecting the rate of price change of underlying security.
Formula
cmoArray[] = (upArray[]-downArray[])/(upArray[]+downArray[])*100 where upArray[]=sum(value>value[-1] ? (up=value-value[-1];down=0) : (up=0;down=value[-1]-value))
Interpretation
Overbought levels are indicated with CMO moving above +50, oversold levels are indicated with CMO below -50. Range of the indicator is -100 to 100.
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