This indicator was developed by Roger Altman and was introduced in the February 1993 issue of "Technical Analysis of Stocks & Commodities" magazine. The RSI was developed by J. Welles Wilder and is discussed in his book "New Concepts in Technical Trading".
After I got done coding this, I saw that tradingview.com/u/TheLark/ had already coded the same indicator. Small differences, but same indicator, just want to give credit to a line leader.
Hey man, thanks for the awesome free indicator!! Just wanted to point out to anyone using a BLACK background, you can switch to white to view the indicator properly with a black RMI line or edit the following code in the script:
plot(RMI, color=black)
and change it to color=white !
Thanks again!
TheLark
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Thanks for the shout out, geez I really missed this haha! Your version is very clean
A-shot
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Glad i bumped into this. Thanx for sharing, the credits, and hope you will come up and enhance existing indicators!
plot(RMI, color=black)
and change it to color=white !
Thanks again!