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- study("Relative Momentum Index")
- // Relative Momentum Index
- //
- // Roger Altman, February 1993, "Technical Analysis of Stocks & Commodities"
- //
- // Rewrite for Tradingview "Pine Script" by Kocurekc, April 2014
- // https://getsatisfaction.com/tradingview/
- // https://www.tradingview.com/u/kocurekc/
- // Code is provided as public domain, no warranty
- //******************************Using***************************
- //Inputs - EMA averaging length
- //Inputs - Momentum, lookback period for increase or decrease
- //Option - Upper Bound Line, which sets the upper fill level
- //Option - Lower Bound Line, which sets the lower fill level
- //******************************END*****************************
- Len = input(title="EMA Averaging Length", type=integer, defval=20, minval=1)
- Mom = input(title="Lookback for Momentum", type=integer, defval=5, minval=1)
- OVB = input(title="Top Boundary", type=integer, defval=80, minval=51, maxval=100)
- OVS = input(title="Bottom Boundary", type=integer, defval=20, minval=0, maxval=49)
- InA = input(title="SMA Trendline", type=bool, defval=false)
- smaLen = input(title="SMA Period", type=integer, defval=10, minval=1)
- emaInc = ema(max(close - close[Mom], 0), Len)
- emaDec = ema(max(close[Mom] - close, 0), Len)
- RMI = emaDec == 0 ? 0 : 100 - 100 / (1 + emaInc / emaDec)
- p1 = plot(RMI >= OVB ? RMI : OVB, color=green)
- p2 = plot(OVB, title='OverB', color=green)
- p3 = plot(OVS, title='OverS', color=red)
- p4 = plot(RMI <= OVS ? RMI : OVS, color=red)
- hline(50, linestyle=dashed)
- plot(RMI, color=black)
- plot(InA?sma(RMI,smaLen):na)
- fill(p1, p2, color=green, transp=50)
- fill(p3, p4, color=red, transp=50)
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