Relative Momentum Index

E-mini S&P 500 FuturesCME

Beschreibung

⋅ 5. Sept. 2014 04:16

The Relative Momentum Index (RMI) was developed by Roger Altman. Impressed
with the Relative Strength 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 RSI.
As mentioned, the RMI is a variation of the RSI indicator. Instead of counting
up and down days from close to close as the RSI 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 RSI). So as the name of the indicator reflects, "momentum" is
substituted for "strength".

relative Momentum Indicator (MOM)index rmi

Kommentare

kocurekc

⋅ 6. Sept. 2014 16:55

Here's a colorized version if you want to pretty yours up...
tradingview.com/v/weJo6a7l/

Props to Lark - tradingview.com/u/TheLark/

ChartArt

⋅ 5. Sept. 2014 14:50

FYI: Here is the RMI created by user TheLark

tradingview.com/v/UCm7fIvk/

ChartArt

⋅ 5. Sept. 2014 13:13

I found a small issue with your script. The zero line doesn't work. It has to be set to 50 not 0 :)

ChartArt

⋅ 5. Sept. 2014 13:15

I mean it seems to 55 not 50.

HPotter

⋅ 5. Sept. 2014 13:16

What about script do you speak?

ChartArt

⋅ 5. Sept. 2014 13:18

RMI has three levels: 0 (zero line), 70 (overbought), 40 (oversold).

The first level (hline) needs to be 55 not 0.

HPotter

⋅ 5. Sept. 2014 13:32

Oh, I understood. I do not know how work this versions of the scripts for fix. I hope that peoples will fix it yourself. Thank you.

ChartArt

⋅ 5. Sept. 2014 12:50

The RMI seems to be one of the many indicators which sound awesome in theory but produce many false signals in reality.

ChartArt

⋅ 5. Sept. 2014 13:03

RSI vs RMI (both with a period length of 20 days)

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