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- study(title = "TheLark Relative Momentum Index (RMI)",overlay=false)
- //•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//
- // //
- // RMI BY THELARK //
- // ~ 2-19-14 ~ //
- // //
- // •/• //
- // //
- // https://www.tradingview.com/u/TheLark //
- // //
- //•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•/•//
- // Relative Momentum Index (RMI)
- // "... The Relative Momentum Index was developed by Roger Altman
- // and was introduced in his article in the February, 1993 issue of
- // Technical Analysis of Stocks & Commodities magazine. "
- // "... While RSI counts up and down days from close to close, the Relative
- // Momentum Index counts up and down days from the close relative to a
- // close x number of days ago. "
- // Requested by glaz @ TradingView
- // inputs
- len = input(20, title="Length")
- mom = input(4, title="Momentum",minval=0)
- ob = input(70,title="Overbought")
- os = input(30,title="Oversold")
- c = close
- dosignal = input(true,title="Show Signal Line?")
- sig = input(6,title="Signal Length")
- dohist = input(true,title="Show Hist?")
- //calc
- up = ema(max(c - c[mom],0),len)
- dn = ema(max(c[mom] - c,0),len)
- rmi = dn == 0 ? 0 : 100 - 100 / (1 + up / dn)
- signal = sma(rmi,sig)
- //plots
- hline(ob)
- hline(os)
- plot(dosignal and dohist?(rmi-signal)+50:na,color=#FF006E,histbase=50,style=histogram,linewidth=2)
- plot(dosignal?signal:na,color=#D87A68)
- plot(rmi, color=#42B0FF,linewidth=2)
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