Elixiumcapital.com

Relative Momentum Index Elixium

Just a mod to change the precision to zero (remove the useless digits e.g. indicator value 80.000000)
Also it appears that this indicator hasn't been published on the library yet.
Remove from Favorite Scripts Add to Favorite Scripts
study(title = "Relative Momentum Index Elixium", shorttitle= "RMI Elixium", precision=0)
// 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)
ChartArt
2 years ago
The RMI had been posted by Kocurekc 15 months ago:
Pine Script - Relative Momentum Indicator



And TheLark had posted it 17 months ago (but I think the version by Kocurekc, which you also posted looks much better):
FREE INDICATOR: Relative Momentum Index (RMI)



Tradingview has some issues with their code library. I find more indicators using Google site search on Tradingview, than using Tradingview directly.
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kocurekc
2 years ago
It was the wild west days of pine-scripting back then...I still like this indicator...must be a visual thing
Reply
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