with the Index's sensitivity to the number of look-back
periods, yet frustrated with it's inconsistent oscillation between defined
overbought and oversold levels, Mr. Altman added a momentum component to the .
As mentioned, the RMI is a variation of the indicator. Instead of counting
up and down days from close to close as the does, the RMI counts up and down
days from the close relative to the close x-days ago where x is not necessarily
1 as required by the ). So as the name of the indicator reflects, "momentum" is
substituted for "strength".
You can change long to short in the Input Settings
- For purpose educate only
- This script to change bars colors.