The Chande Momentum Oscillator is a handy tool for traders, and when you implement it as a series of candlesticks, it can provide a wealth of insights. This version of the indicator presents candlesticks that are generated through the Chande Momentum Oscillator algorithm, making it easier to analyze price movements effectively.
Many traders find that this candlestick approach offers greater clarity for analyzing market trends and momentum.
To get started, you'll need the compiled indicator file Chande_Momentum_Oscillator.ex5. Simply place it in your <terminal_data_folder>\\MQL5\\Indicators directory, and you’re all set!
Fig.1. The Chande Momentum Oscillator_Candle indicator
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