Chande Momentum Oscillator + BB / Owl of Profit

Chande Momentum Oscillator + Bollinger Bands Strategy

This strategy combines the Chande Momentum Oscillator (CMO) with Bollinger Bands to identify overbought and oversold conditions and generate entry and exit signals based on price action and momentum.

Features:

Bollinger Bands:

Visualize volatility and identify price breakouts using customizable period and standard deviation.
Signals are triggered when the price crosses above or below the Bollinger Bands.
Chande Momentum Oscillator (CMO):

Detects momentum with a customizable length.
Confirms overbought or oversold conditions with upper and lower thresholds.
Entry Conditions:

Long: Price crosses below the lower Bollinger Band, and CMO is below the oversold level.
Short: Price crosses above the upper Bollinger Band, and CMO is above the overbought level.
Exit Conditions:

Long Exit: Price crosses above the Bollinger Basis or CMO enters overbought.
Short Exit: Price crosses below the Bollinger Basis or CMO enters oversold.
Customization Options:

Adjust Bollinger Bands length and standard deviation for sensitivity.
Modify CMO length and thresholds to refine momentum detection.
Visualization:

Bollinger Bands are shaded for clear identification of overbought and oversold zones.
CMO and its thresholds are plotted for easy reference.
This strategy is designed for educational and testing purposes. Use it as a foundation for backtesting and adapting to your trading approach.

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Happy trading!