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Chande Momentum Indicator

The Chande Momentum Oscillator, developed by Tushar Chande was developed to capture "pure momentum."  The CMO is similar to the Relative Strength Index indicator in that it measures both up and down price changes.  The CMO values are confined to the -100 and +100 range.  This indicator is mainly used to determine extreme overbought or oversold conditions.  Tushar Chande identifies that any reading above +50 is overbought and any reading below -50 as oversold.

See Also

Chande Momentum Developer Help

Relative Strength Index