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The following are MetaStock formulas for Tuschar Chande's Momentum Oscillator. For interpretation refer to the book The New Technical Trader, by Tuschar Chande and Stanley Kroll.
CMO_1
Sum( If( C ,> ,Ref( C, -1 ) , ( C - Ref( C ,-1 ) ) ,0 ) ,14 )
CMO_2
Sum( If( C ,< ,Ref( C ,-1 ) , ( Ref( C ,-1 ) - C ) ) ,0 ) ,14 )
CMO_Final
100 * ( ( Fml( "CMO_1" ) - Fml( "CMO_2" ) ) / ( Fml( "CMO_1" ) + Fml( "CMO_2" ) ) )
You could also combine the above three formulas into one formula. The syntax would be:
100*((Sum(If(C,>,Ref(C,-1),(C-Ref(C,-1)),0),14))-(Sum(If(C,<,REF(C,-1),(REF(C,-1)-C),0),14))) /((Sum(If(C,>,Ref(C,-1),(C-Ref(C,-1)),0),14)+(Sum(If(C,<,REF(C,-1),(REF(C,-1)-C),0),14))))
*** These formulas were constructed using 14 time periods, you can change this by replacing every occurrence of 14 with your desired time period value.
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