relative momentum index
hi guys ..it s been a while i m using the relative momntum index as my only indicator and the results are amazing ..this indicator is a winner...
the problem is i m using it on metastock and i wonder if someone can make the code for metatrader ....
buy order : Cross(RMI(C,20,5),30)
exit : Cross(70,RMI(C,20,5))
sell short order : Cross(70,RMI(C,20,5))
exit : Cross(RMI(C,20,5),30)
i hope someone can help us here ....
here are the results for 2 years backtesting (manually) 1h charts:
usdjpy 2079 pip
eurgbp 610 pip
eurjpy 1284 pip
eurusd 2930 pip
gbpusd 3529 pip
usdchf 2383 pip
as you can see no loosing pairs in the long run , and we can even improve it more ..
file in MQ format
If you ( or anybody who read this thread)have the mq format file of the stochastimomentum put it here please.
I will be appreciated.
Newdigital posted the source code, u can find it here https://c.mql5.com/forextsd/forum/100/smi.mq4
Can you please post the relative momentum index for MT4
this link and its file is little diffrnt from yours ,both in graph and value,check it and lead me to the main source pls.
I too would like to see a mq4 version of RMI. More info on this indicator can be found on the FMLabs website. Quoting a page from their site:
Relative Momentum Index (RMI)
"The Relative Momentum Index (RMI) is a variation on the Relative Strength Index (RSI). To determine up and down days, the RSI uses the close compared to the previous close. The RMI uses the close compared to the close n days ago. An RMI with a time period of 1 is equal to the RSI. The RMI ranges from 0 to 100. Loke the RSI, The RMI is interpreted as an overbought/oversold indicator when the value is over 70/below 30. You can also look for divergence with price. If the price is making new highs/lows, and the RMI is not, it indicates a reversal.
The Relative Momentum Index was developed by Roger Altman and was introduced in his article in the February, 1993 issue of Technical Analysis of Stocks & Commodities magazine."
See attachment for formula
I could use an alert with this indicator when a cross of MSI and signal line is confirmed by the close of the bar.
If anyone could program that it would be awesome!
Variable "m" and "n" - are identical?
this one is diffrent from the indicator which is mentioned at post #5. Would you pls put the mq4 formatt of the post #5 here to use by me.
Stochastic Momentum expired,
Can you please give me another week to try it.