Greetings MrTools, Are those Rmi candles on the chart? if I'm wrong can you share the indicator please because then I'd have failed to find it on heremrtools wrote: Mon Jan 23, 2023 3:48 pm RMI indicator
Made this one with a filter.
RMI vs RSI
Roger Altman created the RMI due to his frustration with the RSI's inconsistent oscillation between defined overbought and oversold levels which made it hard for him to analyze trends, so Altman added a momentum component to the RSI.
- RSI counts price's gains and losses from Close to Close.
- RMI calculates price's gains and losses from Close relative to a Close several bars back
RMI is an advanced version of the RSI indicator which is better suited to trend trading. Signals on the "50" median line are used for entering trends.
A Jurik Smoothed version is also available here: Jurik RMI indicator.
Re: RSI Indicators for MT4
2181- These users thanked the author Lightningstorm7 for the post (total 2):
- Chickenspicy, ggblake