Relative Momentum Index (RMI)

[Apprentice]

Relative Momentum Index (RMI)

Relative Momentum Index or RMI is a momentum indicator developed by Roger Altman.

Relative momentum index is basically Relative Strength Index (RSI) .

Unlike the RSI, which we get as the difference between today and yesterday's price,
RMI is obtained as the difference between current price and price N periods ago.

If the RMI parameter Momemtum Period is set to 1 we have a standard RSI.

RMI.lua

(4.03 KiB) Downloaded 1248 times

The indicator was revised and updated

[lisa_baby_xx]

Dear Apprentice,

Can you add the following parameters to this wonderful indicator:

-Line type.
-Line thickness, and most importantly:
-User defineable Overbought/Oversold levels.

I find this indicator is not as jittery as the regular RSI.

Much love and Many - MANY - Thanks! XXX.
lisa_baby_xx

[Apprentice]

Your request has been added to developmental cue.

[Apprentice]

Style Option Added.

[Giantball]

Hi,

Please create a bigger timeframe RMI,(bfRMI). Thank you for helping us small guys out.

Best Regards,
G

[Apprentice]

This type of requests / indicators is obsolete.
Something like this, is possible using standard, Marketscope functionality.
Simply change the Source Time Frame.

[kalprao]

Hello apprentice

can you please add an option for Line colors .

Colors of up and down trend
UPUP , UPDN
DNUP , DNDN

Thank you ,it will greatly appreciated

[Apprentice]

What we will defined up & down trend.

[Apprentice]

The indicator was revised and updated.