We present in detail the implementation of the Blaizot-Mendez-Wschebor (BMW) approximation scheme of the nonperturbative renormalization group, which allows for the computation of the full momentum dependence of correlation functions. We discuss its signification and its relation with other schemes, in particular the derivative expansion. Quantitative results are presented for the testground of scalar O(N) theories. Besides critical exponents which are zero-momentum quantities, we compute in three dimensions in the whole momentum range the two-point function at criticality and, in the high temperature phase, the universal structure factor. In all cases, we find very good agreement with the best existing results.
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