CMO
Summary
Chande Momentum Oscillator: bounded momentum measure from Wilder-smoothed average up-moves and down-moves. Identical to RSI except the numerator uses (gain-loss) instead of gain. Bounded in [-100,+100]; positive = net upward momentum, negative = net downward.
Formula
d = P[t]-P[t-1]; over the initial period accumulate gain = sum of positive d, loss = sum of -d for negative d. Wilder-smooth each: prevGain = (prevGain*(period-1) + gain_today)/period (same for loss). CMO = 100 * (prevGain-prevLoss)/(prevGain+prevLoss); 0 when prevGain+prevLoss == 0.
Notes
- Gains and losses are smoothed with Wilder's method (as in RSI) rather than the simple period sums of Chande's original definition.
- In Metastock-compatibility mode, an extra initial bar is emitted using a simple gain/loss average.
Inputs
inReal— Source price/value series
Outputs
outReal— CMO oscillator value
Parameters
optInTimePeriod— Bars over which gains/losses are smoothed
Implementation
TA-Lib Definition: cmo.c · cmo.yaml
| Native | File |
|---|---|
| C | ta_CMO.c |
| Rust | cmo.rs |
| Java | Core.java |
TA-Lib is also available for Python, R and more using a wrapper.
Aliases
Chande Momentum Oscillator
See Also
References
- Tushar S. Chande, The New Technical Trader, John Wiley & Sons (ISBN 0471597805)