Trade Signal Module Based on Chande Momentum Oscillator
Info
The Trade Signal Module Based on Chande Momentum Oscillator is a Library for MetaTrader 5 that trade signals are generated on completed bars. This indicator is used as a custom indicator for the trade signal module.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Library works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Libraries folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Trade Signal Module Based on Chande Momentum Oscillator
1. Storage: Place library files in the MQL/Libraries directory to ensure they are accessible to your projects.
2. Implementation: Include the library in your code using the #import directive, ensuring you match the exact function names and parameters.
3. Compilation: Ensure the library is present in the directory before you compile your main EA or script, as the compiler links them during this phase.
4. Management: Keep libraries organized in sub-folders if you manage many custom functions to maintain a clean project structure.
Frequently Asked Questions
Q: What is a library file used for? A: Libraries store reusable code modules, allowing you to centralize common logic used by multiple EAs or indicators.
Q: Is a library executable? A: No, libraries are non-executable files containing functions; they must be imported into an EA, indicator, or script to function.
Q: Can I update a library while the platform is running? A: You should compile your EA or script after updating a library to ensure the latest code changes are integrated.
What this tool does
Trade signals are generated on completed bars.
Typical Use Case
This Library excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Library works on MetaTrader 5. Place the file in the MQL5/Libraries folder and restart the terminal.
Description & Settings
Related: MQTT Five — MQTT 5.0 Client Library for MetaTrader 5 - another powerful library for MetaTrader 5 traders.
Trade signals are generated on completed bars. This indicator is used as a custom indicator for the trade signal module.Also recommended: channel proximity engine: advanced signal generation - similar library with strong performance on MetaTrader 5.
A long position can be opened when the Chande Momentum Oscillator crosses below the -50 level.
A short position can be opened when the Chande Momentum Oscillator crosses above the 50 level.
The following input parameters were used during testing:
CMO Period: 9
CMO Shift: 0
Timeframe: D1
Symbol: EURUSD
Lot Size: 0.1
Stop Loss, Take Profit, Trailing Stop: Not used.
To use this trade signal module, ensure the following files are placed in the correct directories:
- chande_momentum_oscillatorsignal.mqh and basedonindicatorexpertsignal.mqh should be placed in terminal_data_folder\mql5\include\expert\signal\mysignals.
- The Chande Momentum Oscillator indicator (chande_momentum_oscillator.mq5) should be placed in terminal_data_folder\mql5\indicators.
- The smoothalgorithms.mqh file should be placed in terminal_data_folder\mql5\include.
Chande Momentum Oscillator
Historical Backtesting Results (from 01.01.2010 to 01.01.2026)
Historical Backtesting Results
You may also like: asq session manager for metatrader 5 - excellent alternative for library users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#include <expert\expert.mqh>
#include <expert\mysignals\chande_momentum_oscillatorsignal.mqh>
#include <expert\trailing\trailingnone.mqh>
#include <expert\money\moneyfixedlot.mqh>
input string expert_title ="test_change_momentum_oscillator"; // document name
ulong expert_magicnumber =18949; //
bool expert_everytick =false; // .......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.