Chande Momentum Oscillator (CMO) Stock Screener

Traders can make informed decisions and identify profitable opportunities with the help of the Chande Momentum Oscillator, which is designed to recognize momentum and indicate potential trend reversals and overbought/ oversold conditions

8 minutes

This post focuses on customizable Chande Momentum Oscillator (CMO) factory scans, which can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

Display Chande Momentum Oscillator (CMO) Values

Tags: chande momentum oscillator, chande momentum oscillator calculation, chande momentum oscillator formula, chande momentum oscillator indicator, chande momentum oscillator screener, chande momentum oscillator strategy, cmo indicator screener, cmo indicator strategy, cmo screener, momentum oscillator indicator, momentum stocks screener

List symbols
Add Column Chande Momentum Oscillator(20) as CMO20
Apply to NSE

This scan determines and displays the 20-period Chande Momentum Oscillator for all NSE symbols. By default, the CMO is calculated based on the “Close” prices.

OPTION 1

Below is a list of Chande Momentum Oscillator values for various periods. Please note that the abbreviation “CMO” is used instead of the full term “Chande Momentum Oscillator.”

List symbols
Add Column CMO(20) as CMO20
Add Column CMO(25) as CMO25
Apply to NSE

OPTION 2

Typically, the Chande Momentum Oscillator (CMO) is calculated using the “Close” data. However, if you want to calculate CMO using a different data array, such as the Exponential Moving Average (EMA) of the Close values with a period of 14, you can modify the scan as described below.

List symbols
Add Column CMO(20,EMA(14)) as CMO_of_EMA
Apply to NSE

Chande Momentum Oscillator (CMO) in Overbought Zone

Tags: chande momentum oscillator overbought declining screener, chande momentum oscillator overbought decreasing scanner, chande momentum oscillator overbought stock screener, cmo overbought stock screener, cmo overbought stocks

List symbols where CMO(20) has been above 50 for the last 3 bars
Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2
Apply to Nifty

This scan looks for Nifty symbols that have consistently maintained a 20-period CMO value above +50 for the past 3 bars. The scan report also includes the 20-period CMO values for the last 3 bars.

OPTION 1

In the ChartAlert scripting language, you have the flexibility to modify the phrase “has been above” to “>,” “greater than,” or “more than,” depending on your preference. You can apply this modification to one or more Index components, such as Nifty, or multiple sectors simultaneously.

List symbols where CMO(20) > 50 for the last 3 bars
Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2
Apply to Nifty
Apply to Junior
Apply to NSE Sector Technology

OPTION 2

To look for symbols indicating an overbought condition specifically in relation to the CMO, modify the original scan as follows:

List symbols where CMO(20) > 50
Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2
Apply to Nifty

Chande Momentum Oscillator (CMO) in Oversold Zone

Tags: chande momentum oscillator oversold improving scanner, chande momentum oscillator oversold increasing screener, chande momentum oscillator oversold stock screener, cmo oversold stock screener, cmo oversold stocks

List symbols where CMO(20) has been below -50 for the last 3 bars
Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2
Apply to Nifty

This scan searches for Nifty symbols that have had a 20-period CMO below -50 for the past 3 bars. The output scan report includes the 20-period CMO values for the last 3 bars.

OPTION 1

In ChartAlert, you have the flexibility to customize the script by using “<” or “less than” instead of “has been below” to indicate the CMO condition. You can also add more filters to the scan as per your preferences.

List symbols where CMO(20) < -50 for the last 3 bars
And pattern is GapDown 

Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2

Apply to NSE

OPTION 2

To identify instances where the CMO is positioned in the Oversold Zone, make the following modification to the initial scan:

List symbols where CMO(20) < -50
Add Column CMO(20) as CMO20
Add Column CMO(20) 1 bar ago as CMO20_1
Add Column CMO(20) 2 bars ago as CMO20_2
Apply to Nifty

Overbought with a Declining Chande Momentum Oscillator (CMO)

Tags: chande momentum oscillator overbought declining screener, chande momentum oscillator overbought decreasing scanner, chande momentum oscillator overbought stock screener, cmo overbought stock screener, cmo overbought stocks

List symbols where CMO(20) has crossed below +50 after remaining above for 3 bars
Add Column CMO(20) as CMO20
Apply to NSE

This scan looks for specific patterns in symbols. It focuses on instances where the 20-period CMO has recently crossed below the +50 level, following a period of having been above +50 for 3 bars. The scan report will also show the 20-period CMO values.

OPTION 1

Here is a more stringent variation. In addition to the conditions mentioned earlier, this scan also confirms that the CMO values have been decreasing over the past 4 bars.

List symbols where CMO(20) has crossed below +50 after remaining above for 3 bars
And CMO(20) has been decreasing over the last 4 bars

Add Column CMO(20) as CMO20

Apply to NSE

Oversold with an Improving Chande Momentum Oscillator (CMO)

Tags: chande momentum oscillator oversold improving scanner, chande momentum oscillator oversold increasing screener, chande momentum oscillator oversold stock screener, cmo oversold stock screener, cmo oversold stocks

List symbols where CMO(20) has crossed above -50 after remaining below for 3 bars
Add Column CMO(20) as CMO20
Apply to NSE

This scan identifies instances where the 20-period CMO has recently crossed above the -50 level. Prior to this crossover, the CMO must have remained below the -50 level for a duration of 3 bars. The output scan report includes the 20-period CMO values.

OPTION 1

In addition to the criteria mentioned above, this variant of the scan ensures that the CMO values have shown improvement over the past 4 bars.

List symbols where CMO(20) has crossed above -50 after remaining below for 3 bars
And CMO(20) has been increasing over the last 4 bars

Add Column CMO(20) as CMO20

Apply to NSE

Chande Momentum Oscillator Moving Average Bullish Crossover

Tags: chande momentum oscillator crossover screener, chande momentum oscillator moving average crossover screener, cmo crossover screener, cmo moving average bullish crossover screener, cmo moving average crossover screener

List symbols where CMO(20) has crossed above SMA(10,CMO(20)) after remaining below for 3 bars
Add Column CMO(20) as CMO20
Add Column SMA(10,CMO(20)) as SMA10_CMO20
Apply to NSE

This scan is designed to identify specific patterns. It focuses on symbols where the 20-period CMO has recently crossed above the 10-period Simple Moving Average (SMA) of the indicator after having been below it for 3 consecutive bars. The values of the 20-period CMO and the Moving Average are also provided in the scan report.

OPTION 1

To enhance the scan, you can include an additional filter. This filter checks if the CMO(20) is still below 0. When the CMO(20) crosses above 0, it is considered a confirmation of a bullish signal.

List symbols where CMO(20) has crossed above SMA(10,CMO(20)) after remaining below for 3 bars
And CMO(20) < 0

Add Column CMO(20) as CMO20
Add Column SMA(10,CMO(20)) as EMA_CMO20

Apply to NSE

OPTION 2

To change to a different type of Moving Average, you can easily make a modification by replacing “SMA” with “EMA” for Exponential Moving Average. In the example provided below, we have used the Volume-adjusted Moving Average, denoted as “VOLMA,” instead of SMA. Furthermore, the scan here focuses solely on identifying crossovers, without considering the state of their positioning prior to the crossover.

List symbols where CMO(20) has crossed above VOLMA(10,CMO(20))
Add Column CMO(20) as CMO20
Add Column VOLMA(10,CMO(20)) as VOLMA10_CMO20
Apply to NSE

Chande Momentum Oscillator Moving Average Bearish Crossover

Tags: chande momentum oscillator crossover screener, chande momentum oscillator moving average crossover screener, cmo crossover screener, cmo moving average bearish crossover screener, cmo moving average crossover screener

List symbols where CMO(20) has crossed below SMA(10,CMO(20)) after remaining above for 3 bars
Add Column CMO(20) as CMO20
Add Column SMA(10,CMO(20)) as SMA10_CMO20
Apply to NSE

This scan examines symbols to identify a specific pattern: when the 20-period CMO crossed below the 10-period Simple Moving Average (SMA) of the indicator, having been above it for 3 consecutive bars. The scan report includes the values of both the 20-period CMO and the Moving Average.

OPTION 1

Additionally, we can include another filter to verify if the CMO(20) value is still greater than 0. When the CMO(20) crosses below 0, it confirms a bearish signal.

List symbols where CMO(20) has crossed below SMA(10,CMO(20)) after remaining above for 3 bars
And CMO(20) > 0

Add Column CMO(20) as CMO20
Add Column SMA(10,CMO(20)) as EMA_CMO20

Apply to NSE

OPTION 2

To change the Moving Average type, you can easily switch from SMA (Simple Moving Average) to EMA (Exponential Moving Average). In the example below, we have used a Volume-adjusted Moving Average, which replaces SMA with VOLMA. Moreover, this scanning method simply searches for a crossover event, regardless of its state prior to the crossover.

List symbols where CMO(20) has crossed below VOLMA(10,CMO(20))
Add Column CMO(20) as CMO20
Add Column VOLMA(10,CMO(20)) as VOLMA10_CMO20
Apply to NSE

For comprehensive insights into the Chande Momentum Oscillator (CMO), including its calculation methodology, understanding the CMO, how to use the Chande Momentum Oscillator (CMO) in trading, as well as an exploration of its advantages and limitations as an indicator, click here.

%d bloggers like this: