Chande momentum oscillator

Tushar Chande invented this technical indicator to gauge the current momentum of an ongoing trend. The difference between the sum of gains and the sum of loses are divided by the sum of prices over a number of recent periods. The Chande momentum oscillator determines whether a security is overbought or oversold. A +50 reading means the security is overbought and might be ripe for a reversal and a reading below -50 means the security is oversold.

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