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RMIx.txt
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study(title = "RMIx",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(4, title="Length")
mom = input(4, title="Momentum",minval=0)
ob = input(40,title="Overbought")
os = input(40,title="Oversold")
c = close
docol = input(true,title="Change Color?")
dosignal = input(true,title="Show Signal Line?")
sig = input(6,title="Signal Length")
dohist = input(false,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(dohist?(rmi-signal)+50:na,color=#FF006E,histbase=50,style=histogram,linewidth=2)
plot(dosignal?signal:na,color=#D87A68)
col = docol ? rmi > rmi[1] ? #0094FF : #FF006E : #0094FF
plot(rmi, color=col,linewidth=2)