Net Momentum Oscillator Stock Screener

The Net Momentum Oscillator provides traders with a visual representation of market momentum and helps identify potential entry and exit points for trades while also being used in conjunction with other technical indicators to confirm signals and improve trading performance

7 minutes

This post focuses on customizable Net Momentum Oscillator (NMO) 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 Net Momentum Oscillator (NMO) Values

Tags: net momentum oscillator scanner, net momentum oscillator screener, net momentum oscillator stock screener, net momentum oscillator strategy

List symbols
Add Column Net Momentum Oscillator(14) as NMO14
Apply to NSE

This scan computes and displays the 14-period Net Momentum Oscillator for all symbols listed on the NSE.

OPTION 1

The following list shows the values of the Net Momentum Oscillator with different periods. Please note that the abbreviation “NMO” has been used instead of “Net Momentum Oscillator”.

List symbols
Add Column NMO(14) as NMO14
Add Column NMO(21) as NMO21
Apply to NSE

Net Momentum Oscillator (NMO) in Overbought Zone

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List symbols where NMO(14) has been above 50 for the last 3 bars
Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2
Apply to NSE

This scan is designed to identify NSE symbols with a consistent upward trend in the 14-period NMO, where it has remained above +50 for the past 3 bars. The scan report also includes the 14-period NMO values for these 3 bars.

OPTION 1

With the ChartAlert scripting language’s flexibility, you have the option to customize the phrasing “has been above” with symbols like “>” (greater than) or “more than” to suit your preference. This feature can be applied to individual Index components such as Nifty or multiple sectors simultaneously.

List symbols where NMO(14) > 50 for the last 3 bars
Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2
Apply to Nifty
Apply to Junior
Apply to NSE Sector Technology

OPTION 2

To identify symbols where the NMO (Negative Money Flow Oscillator) is solely in the Overbought Zone, make the following modifications to the initial script:

List symbols where NMO(14) > 50
Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2
Apply to Nifty

Net Momentum Oscillator (NMO) in Oversold Zone

Tags: net momentum oscillator crossover above 30, net momentum oscillator overold screener, net momentum oscillator oversold and improving screener, net momentum oscillator oversold and increasing screener, net momentum oscillator oversold stock screener, stock screener net momentum oscillator above 30

List symbols where NMO(14) has been below -50 for the last 3 bars
Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2
Apply to NSE

This scan examines NSE symbols to identify those in which the 14-period NMO has consistently remained below -50 for the past 3 bars. Additionally, the scan report displays the values of the 14-period NMO for the last 3 bars.

OPTION 1

If desired, you can modify the ChartAlert scan to replace the phrase “has been below” with “<” or “less than” for increased flexibility. Furthermore, you have the option to include additional filters according to your preferences.

List symbols where NMO(14) < -50 for the last 3 bars
And pattern is GapDown 

Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2

Apply to NSE

OPTION 2

To search for symbols indicating that the NMO (Normalized Momentum Oscillator) is solely within the Oversold Zone, modify the initial script according to the following instructions:

List symbols where NMO(14) < -50
Add Column NMO(14) as NMO14
Add Column NMO(14) 1 bar ago as NMO14_1
Add Column NMO(14) 2 bars ago as NMO14_2
Apply to Nifty

Overbought with a Declining Net Momentum Oscillator (NMO)

Tags: net momentum oscillator crossover below 70, net momentum oscillator overbought and declining screener, net momentum oscillator overbought and decreasing screener, net momentum oscillator overbought screener, net momentum oscillator overbought stock screener, stock screener net momentum oscillator below 70

List symbols where NMO(14) has crossed below +50 after remaining above for 3 bars
Add Column NMO(14) as NMO14
Apply to NSE

This scan examines symbols in which the 14-period NMO (Normalized Momentum Oscillator) has recently crossed below the +50 level after staying above it for 3 consecutive bars. The scan report will also display the values of the 14-period NMO.

OPTION 1

Here is a more stringent version of the scan. In addition to identifying symbols that meet the previous criteria, it also verifies that the NMO values have been decreasing over the past 4 bars.

List symbols where NMO(14) has crossed below +50
And NMO(14) has been decreasing over the last 4 bars

Add Column NMO(14) as NMO14

Apply to NSE

Oversold with an Improving Net Momentum Oscillator (NMO)

Tags: net momentum oscillator crossover above 30, net momentum oscillator overold screener, net momentum oscillator oversold and improving screener, net momentum oscillator oversold and increasing screener, net momentum oscillator oversold stock screener, stock screener net momentum oscillator above 30

List symbols where NMO(14) has crossed above -50 after remaining below for 3 bars
Add Column NMO(14) as NMO14
Apply to NSE

This scan aims to identify symbols that meet specific criteria. It searches for instances where the 14-period NMO (Normalized Momentum Oscillator) has recently crossed above the -50 level, following a period of being consistently below -50 for 3 consecutive bars. The output scan report includes the values of the 14-period NMO.

OPTION 1

A more stringent variation is provided below. This scan not only examines symbols that satisfy the aforementioned criteria but also verifies that the NMO values have shown improvement over the past 4 bars.

List symbols where NMO(14) has crossed above -50
And NMO(14) has been increasing over the last 4 bars

Add Column NMO(14) as NMO14

Apply to NSE

Net Momentum Oscillator Moving Average Bullish Crossover

Tags: net momentum oscillator moving average crossover bullish

List symbols where NMO(14) has crossed above EMA(3,NMO(14)) after remaining below for 3 bars
Add Column NMO(14) as NMO14
Add Column EMA(3,NMO(14)) as EMA3_NMO14
Apply to NSE

This scan is designed to identify specific patterns in the market. It focuses on symbols where the 14-period NMO has recently crossed above the 3-period Exponential Moving Average (EMA) after being below it for 3 consecutive bars. The values of the 14-period NMO and the Moving Average are also included in the scan report.

OPTION 1

If you wish to use a different type of Moving Average, such as the Zero Lag Exponential Moving Average (ZLEMA), you can modify the scan by replacing ‘EMA’ with ‘ZLEMA’. In the example provided below, we have replaced the 3-period EMA with a 5-period ZLEMA. Additionally, this scan simply focuses on identifying crossovers, regardless of the status of the indicators prior to the crossover.

List symbols where NMO(14) has crossed above ZLEMA(5,NMO(14))
Add Column NMO(14) as NMO14
Add Column ZLEMA(5,NMO(14)) as ZLEMA5_NMO14
Apply to NSE

Net Momentum Oscillator Moving Average Bullish Crossover

Tags: net momentum oscillator moving average crossover bullish

List symbols where NMO(14) has crossed below EMA(3,NMO(14)) after remaining above for 3 bars
Add Column NMO(14) as NMO14
Add Column EMA(3,NMO(14)) as EMA3_NMO14
Apply to NSE

This scan examines symbols for a specific pattern. It checks if the 14-period NMO (Name of the Moving Average) has recently crossed below the 3-period Exponential Moving Average (EMA) of the indicator, following a period of being above it for 3 consecutive bars. The results of the scan include the values of both the 14-period NMO and the Moving Average.

OPTION 1

If you wish to use a different type of Moving Average, you can easily modify the scan. For example, you can replace “EMA” with “ZLEMA” to use the Zero Lag Exponential Moving Average. In the given example, the 3-period EMA has been substituted with a 5-period ZLEMA. Additionally, this scan only focuses on identifying crossovers and does not consider the status of the crossover in relation to previous values.

List symbols where NMO(14) has crossed below ZLEMA(5,NMO(14))
Add Column NMO(14) as NMO14
Add Column ZLEMA(5,NMO(14)) as ZLEMA5_NMO14
Apply to NSE

For comprehensive insights into the Net Momentum Oscillator (NMO), including its calculation methodology, effective utilization in trading, applicability to both trading and investing purposes, as well as an exploration of its advantages and limitations as an indicator, click here.

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