RMI Trend Sniper Indicator for MT5
- Indicadores
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Mohammad Taher Halimi Tabrizi
I have been studied financial markets in the university and programmed successful experts and scripts for MT4 & MT5 for many years.
I have done more than 500 jobs and have 5 stars out of 5 where you can read all of previous clients review in below link: - Versão: 1.0
- Ativações: 5
RMI Trend Sniper Indicator for MT5
Overview
RMI Trend Sniper is a trend-following technical indicator designed to help traders identify potential buy and sell opportunities based on momentum, volatility, and trend direction. The indicator combines Relative Momentum Index (RMI) logic with volume-weighted and volatility-aware calculations to provide structured, visually clear trading signals directly on the chart.
It is intended for educational and analytical purposes and can be used as part of a broader trading strategy.
How It Works
RMI Trend Sniper blends momentum and volume analysis by combining elements of the Relative Strength Index (RSI) and the Money Flow Index (MFI). These values are processed to detect positive and negative momentum shifts, which are then aligned with short-term trend direction and volatility conditions.
A Range Weighted Moving Average (RWMA) forms the core trend reference, while adaptive volatility bands are calculated using the Average True Range (ATR). Buy and sell signals are generated when momentum conditions change and trend direction confirms the shift.
Signals are displayed in real time using arrows on the chart.
Key Features
Momentum-Based Signal Logic
The indicator evaluates market momentum using a hybrid RSI–MFI calculation to identify bullish and bearish conditions.
Trend Confirmation
Signals are filtered using a short-term exponential moving average of price changes to help confirm directional strength.
Positive and Negative Conditions
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The positive condition evaluates the previous and current RMI values along with a positive change in the 5-period EMA.
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The negative condition evaluates the current RMI value combined with a negative change in the 5-period EMA.
Dynamic Volatility Bands
Adaptive bands are plotted around the Range Weighted Moving Average, reflecting current market volatility and helping visualize potential price expansion or contraction.
Clear Visual Signals
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Color-coded RMI line to distinguish bullish and bearish momentum
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Buy and sell arrows plotted directly on the chart
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Optional light chart theme for improved visibility
Integrated Alerts
Optional pop-up alerts and push notifications are available when new buy or sell signals appear.
Built-in Signal Backtesting Panel
An optional on-chart testing panel allows historical evaluation of signals using configurable take-profit and stop-loss levels. Results such as total trades, wins, and win rate are displayed directly on the chart for quick review.
Inputs and Customization
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RMI length and momentum thresholds
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Visual appearance settings
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Alert and notification options
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Backtesting start date, take-profit, and stop-loss levels
All parameters are adjustable to match different instruments, timeframes, and trading styles.
Usage Notes
RMI Trend Sniper is best used as a trend confirmation and momentum analysis tool. Traders may combine it with price action analysis, support and resistance levels, or higher-timeframe trend filters for additional confirmation.
