Modified RMI Indicator
- Carl August Landstorp
- Version: 1.0
- Activations: 5
This is my own modified version of the RMI indicator. Its one of the best indicators i've found to take small profits from the market and i've been able to make it slightly better by modifying and fine tuning some parts
Default settings works best for M1 timeframe
The Relative Momentum Index calculates a ratio of upwards changes to downwards changes in prices over N-period bars. The RMI values range between 0 and 100. 30 and 70 are the two levels of oversold and overbought market conditions respectively, and this is where we look to take our entry, we wait for the RMI to cross back into the range.
Real account using this indicator here