The Chande Momentum Oscillator (CMO) is a popular and free Forex indicator for the MT5 platform. It is used to measure the strength of a trend and to identify potential reversal points. The CMO is a useful tool for traders because it is easy to interpret and can provide insight into the strength of a trend. The CMO indicator works by measuring the difference between the closing price of a security and its n-period simple moving average. The CMO then calculates the percentage change between the current price and the average price. The indicator then plots the result as a line on the chart. When the CMO is above zero, it indicates that the current price is higher than the average and the trend is up. When the CMO is below zero, it indicates that the current price is lower than the average and the trend is down. The CMO is a popular and free indicator for the MT5 platform and is an essential tool for any Forex trader.
MT5
Chande Momentum Oscillator
The Chande Momentum Oscillator (CMO) is a popular and free forex indicator for MT5 that is useful for measuring the momentum of a currency pair. It is based on the difference between the sum of recent gains and the sum of recent losses. It is calculated by subtracting the previous period’s closing price from the current period’s closing price and then dividing the result by the previous period’s closing price. The CMO is a useful tool for any trader looking to get an edge in the forex market.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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