Category Oscilators  Published on 13/01/2024

Chande Momentum Oscillator

Description

This represents the official edition of the formula devised by Tushar Chande in his 1994 book entitled "The New Technical Trader."


using cAlgo.API;

namespace cAlgo
{

    [Indicator(AccessRights = AccessRights.None, IsOverlay = false)]
    [Levels(0, 100, -100)]
    public class ChandeMO : Indicator
    {

        public const string NAME = "Chande Momentum Oscillator";
        public const string VERSION = "1.00";

        [Parameter("cTrader Guru", DefaultValue = NAME + " (" + VERSION + ") https://ctrader.guru/")]
        public string Identity { get; set; }

        [Parameter("Period", DefaultValue = 14, MinValue = 1)]
        public int Period { get; set; }

        [Output("Main")]
        public IndicatorDataSeries Result { get; set; }


        protected override void Initialize()
        {

            // TODO

        }

        public override void Calculate(int index)
        {

            if (Period > index) return;

            double SumHigh = SumHighestMyData(Bars.ClosePrices, Period, index);
            double SumLow = SumLowestMyData(Bars.ClosePrices, Period, index);
            
            Result[index] = ((SumHigh - SumLow) / (SumHigh + SumLow)) * 100;

        }

        private double SumHighestMyData(DataSeries MyData, int MyPeriod, int CurrentIndex)
        {

            double result = 0;

            for (int i = 0; i < MyPeriod; i++)
            {

                result += MyData[CurrentIndex - i] > MyData[CurrentIndex - i - 1] ? MyData[CurrentIndex - i] - MyData[CurrentIndex - i - 1] : 0;
                
            }

            return result;

        }

        private double SumLowestMyData(DataSeries MyData, int MyPeriod, int CurrentIndex)
        {

            double result = 0;

            for (int i = 0; i < MyPeriod; i++)
            {

                result += MyData[CurrentIndex - i] < MyData[CurrentIndex - i - 1] ? MyData[CurrentIndex - i - 1] - MyData[CurrentIndex - i] : 0;
                
            }

            return result;

        }

    }

}

ctrader.guru's avatar
ctrader.guru

Joined on 19.07.2018

  • Distribution: Free
  • Language: C#
  • Trading platform: cTrader Automate
  • File name: Chande MO.algo
  • Rating: 5
  • Installs: 778
  • Modified: 13/01/2024 13:05
Comments
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ctrader.guru's avatar
ctrader.guru · 11 months ago

Thanks ❤️

CW
Cwebhook · 11 months ago

This platform needs more people like this to open source their creations on what are let's face it open source indicators. Great job Leonardo! much appreciated.