Relative Momentum Index (RMI) - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
The difference with the RSI is that it uses price changes (i.e. momentum) within a specified time period rather than price changes of two adjacent bars. The rest of the calculation is similar to RSI. This indicator was developed by Roger Altman and first published in February 1993 in Technical Analysis of Stocks and Commodities magazine.
The interpretation of the signal is the same as that of the Relative Strength Index:
Attachment download
📎 rmi.mq5 (4.02 KB)
Source: MQL5 #1786
Relative Momentum Index (RMI) - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening recommendations
Relative Momentum Index (RMI) - MetaTrader 5 script | Forex indicator download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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