Relative Momentum Index
30 USD
Demo downloaded:
870
Published:
30 September 2016
Current version:
1.2
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Hi sir, can u show few more example for how to enter and exit?
Hi, absolutely. The RMI indicator can be used in several different ways depending on your trading style, but here are 2 general situations. Like any indicator, it is important to also pay attention to price action.
Short-term trade: The RMI line changing color is a warning signal that a price movement is coming, and the RMI line crossing over the grey control line is a confirmation (enter the trade here)
Longer-term trade: Same characteristics of warning/crossover as in short-term trades, but also the RMI has to reach below ~20 and is moving up (for call), or has to reach above ~80 and is moving down (for put). Exit after RMI moves to the opposite threshold (i.e., from 80 to 20 for a put, or 20 to 80 for a call) and RMI is crossing back over the grey control line again. If you're in a range-bound trading period, you may be able to enter the opposite trade at this point.
And work with which indicator will be better
The RMI indicator is one of my favorites, I find it is very accurate at predicting when a price movement is happening. However, it can't always tell you how big the price movement will be. Therefore, I like to pair RMI with some indication of large upcoming price movements. Squeeze indicators are great for that, we have available for MT4 the StdATR Squeeze Channel and the Modified TTM Squeeze Indicator. Both of these would pair well with RMI, although the Modified TTM Squeeze is a more advanced and robust indicator than the StdATR Squeeze. Feel free to check out their free demos and see what you think!
I hope this helps!
Happy trading,
Jay
Hello,
I spend countless hours with TSI and Delta indicator, and dit find out the following, that if crossings are happen, they are long or short.
Maybe you find it usefull, for future indicators.
Hello,
I spend countless hours with TSI and Delta indicator, and dit find out the following, that if crossings are happen, they are long or short.
Maybe you find it usefull, for future indicators.
Hi, thank you very much! We will absolutely keep this in mind for future products.
Happy new year,
Jay
Testing it for the fist time, and it looks very good for entry/exits
When price changes direction, the color changes, and you get those Signals emailed too. Thats really great.
What I am missing ist the timeframe displayed in the email