ADW - Momentum is a trading indicator based on the Relative Momentum Index (RMI) and Exponential Moving Averages (EMAs). This indicator plots the RMI along with its EMAs and highlights regions where RMI crosses its slow EMA. Additionally, it provides alerts when the momentum flips bullish or bearish.
Key Features:
The RMI helps to identify momentum in the...
The Relative Momentum Index (RMI) is a sibling to the RSI. Where the RSI measures trend based on the average (RMA) of gains and draws over a length of time , the RMI measures based on the SUM of gains and draws . Myself and many others have found that the RMI oscillates better than the RSI does.
I paired the RMI with the oscillation method the Fisher...
Relative Momentum Index indicator script. This indicator was originally developed by Roger Altman (Stocks & Commodities V. 11:2 (57-60)).
RMI with momentum period of 1 will be equal to an RSI when they have the same period and source price.
