Relative Momentum Index (RMI) With WMA.

The Relative Momentum Index (RMI) is a variation of the Relative Strength Index (RSI). While the RMI counts up and down days from today’s close relative to the close n-days ago while the RSI counts days up and down from close to previous close.

BUY{
SET RM = RMI(CLOSE,50,9);
SET MA = WMA(RM,50);
CROSSOVER(RM,MA) AND RM < 20;}

LONGEXIT{
SET RM = RMI(CLOSE,50,9);
SET MA = WMA(RM,50);
CROSSOVER(MA,RM) AND RM > 60;}

SELL{
SET RM = RMI(CLOSE,50,9);
SET MA = WMA(RM,50);
CROSSOVER(MA,RM) AND RM > 60;}

SHORTEXIT{
SET RM = RMI(CLOSE,50,9);
SET MA = WMA(RM,50);
CROSSOVER(RM,MA) AND RM < 20;}

This slideshow requires JavaScript.

Advertisements