Chande Momentum Oscillator

// This source code is subject to the terms of the Mozilla Public License 2.0 at https://mozilla.org/MPL/2.0/
// © sajjetti

//@version=6

//-------------------------------------

// Release:                     2025-12-29
// Update:                      2026-01-04
// Author:                      sajjetti
// Email:                       contact@sajjetti.ai
// Website:                     sajjetti.ai
// Profile:                     https://www.tradingview.com/u/stmd/
// Pineversion:                 6
// Filename:                    4 - CMO (v6).pine

//-------------------------------------
// PURPOSE
// Chande Momentum Oscillator (CMO) - measures momentum by comparing
// the sum of gains to the sum of losses over a specified period.
// Developed by Tushar Chande to capture both up and down momentum.

//-------------------------------------
// FEATURES
// - Multi-timeframe support via Indicator Timeframe input
// - Measures momentum on both up and down days
// - Oscillates between -100 and +100
// - Optional smoothing via MA
// - Offset parameter for historical analysis
// - Dynamic color based on rising/falling values

//-------------------------------------
// NOTES
// - Values above +50 = overbought condition
// - Values below -50 = oversold condition
// - Zero line crossovers indicate momentum shifts
// - CMO = 100 * (sumUp - sumDown) / (sumUp + sumDown)
// - Similar to RSI but unbounded on both sides
// - Division-by-zero protected when no price movement

//-------------------------------------
// INDICATOR PARAMETERS

vVersion                        = "V2.1"
vPineVersion                    = "ps6"
vTitle                          = "Chande Momentum Oscillator"
vShort                          = "CMO"
vOverlay                        = false
vPrecision                      = 2

indicator( title = vTitle+" ["+vVersion+"|"+vPineVersion+"]", shorttitle = vShort+" ["+vVersion+"|"+vPineVersion+"]", overlay = vOverlay, precision = vPrecision )

//-------------------------------------
// INPUTS

var groupCmo                    = "CMO (Standard: close, 5, 1)"

vTimeframe                      = input.timeframe( defval = "", title = "Indicator Timeframe" )
vSource                         = input.source( defval = close, title = "Source", group = groupCmo )
vLength                         = input.int( defval = 5, minval = 1, maxval = 1024, title = "Length", group = groupCmo )
vSmooth                         = input.int( defval = 1, minval = 1, maxval = 1024, title = "Smooth", group = groupCmo )
vOffSet                         = input.int( defval = 0, minval = 0, maxval = 1024, title = "Offset", group = groupCmo )
vUpperBandValue                 = input.int( defval = 20, minval = 1, maxval = 100, title = "Upper Band", group = groupCmo )
vLowerBandValue                 = input.int( defval = -20, minval = -100, maxval = -1, title = "Lower Band", group = groupCmo )

//-------------------------------------
// COLORS

cBullish                        = #26A69A
cBearish                        = #EF5350
cZeroLine                       = #787B86
cUpperBand                      = #787B86
cLowerBand                      = #787B86

//-------------------------------------
// FUNCTIONS

// @function    Simple Moving Average
// @param       n (int) Offset for lookback starting point
// @param       s (series float) Source data
// @param       le (int) Length of the averaging period
// @returns     (float) Average value over the specified period
fMa( n, s, le ) =>
    r = float( 0 )
    for i = n + 0 to ( n + ( le - 1 ) )
        r := ( r + s[ i ] )
    a = r / le
    a

// @function    Calculate upward momentum for current bar
// @param       s (series float) Source data
// @returns     (float) Positive momentum if price increased, else 0
fMomentumUp( s ) =>
    mom = s - s[ 1 ]
    r = mom >= 0.0 ? mom : 0.0
    r

// @function    Calculate downward momentum for current bar
// @param       s (series float) Source data
// @returns     (float) Absolute value of negative momentum if price decreased, else 0
fMomentumDown( s ) =>
    mom = s - s[ 1 ]
    r = mom >= 0.0 ? 0.0 : -mom
    r

// @function    Chande Momentum Oscillator calculation
// @param       n (int) Offset for lookback
// @param       s (series float) Source data
// @param       le (int) Length for summation period
// @returns     (float) CMO value between -100 and +100
fCmo( n, s, le ) =>
    up      = fMomentumUp( s )
    down    = fMomentumDown( s )
    sumUp   = math.sum( up, le )[ n ]
    sumDown = math.sum( down, le )[ n ]
    total   = sumUp + sumDown
    r       = total == 0.0 ? 0.0 : 100.0 * ( sumUp - sumDown ) / total
    r

// @function    Calculate CMO with smoothing for MTF support
// @returns     (float) Smoothed CMO value
fCalcCmo() =>
    cmoBase = fCmo( vOffSet, vSource, vLength )
    fMa( 0, cmoBase, vSmooth )

// @function    Determines plot color based on trend direction
// @param       n (int) Offset for comparison
// @param       s (series float) Source data to evaluate
// @returns     (color) Green if rising, red if falling
fColor( n, s ) =>
    r = ( s[ n + 1 ] < s[ n ] ) ? cBullish : cBearish
    r

//-------------------------------------
// CALCULATIONS

vCmo                            = vTimeframe == "" ? fCalcCmo() : request.security( syminfo.tickerid, vTimeframe, fCalcCmo() )

//-------------------------------------
// PLOT

vLineMedian                     = hline( 0, color = cZeroLine, linestyle = hline.style_dotted, linewidth = 1, title = "Zero Line" )
vUpperBand                      = hline( vUpperBandValue, color = cUpperBand, linestyle = hline.style_dotted, linewidth = 1, title = "Upper Band" )
vLowerBand                      = hline( vLowerBandValue, color = cLowerBand, linestyle = hline.style_dotted, linewidth = 1, title = "Lower Band" )

vPlotCmo                        = plot( vCmo, style = plot.style_line, color = fColor( 0, vCmo ), linewidth = 2, title = "CMO - ST" )

//-------------------------------------