Relative Momentum Index w/Signal Line

Optuma Forums Optuma Feature Requests Relative Momentum Index w/Signal Line

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  • #64785
    Matthew
    • Topics: 1
    • Replies: 2
    • Posts: 3

    Simple – it’s very much like a RSI, but RMI. Would love to see this feature as it’s the only indicator I use consistently. It count the same way except from N days ago.

    • This topic was modified 1 week ago by Matthew Timpane. Reason: Better explanation and general edit
    #64845
    Darren
    • Topics: 66
    • Replies: 617
    • Posts: 683

    Hi Matthew,

    I found a formula and created the following script in a Show View (one applied change the BARS option in the properties to change the lookback period from 10 days).

    When made into a Boolean true/false condition (eg RMI CrossesAbove 70) then it can be used in a watchlist or scan. Workbook attached.

    Capture

    1 user thanked author for this post.
    #64849
    Matthew
    • Topics: 1
    • Replies: 2
    • Posts: 3

    Thanks, Darren! I’ll play around with it to create a signal line for crossover screens. Appreciate that you did this as I’ve been having trouble finding a way to screen for RMI signals.

    #64851
    Darren
    • Topics: 66
    • Replies: 617
    • Posts: 683

    No worries. Would you use a moving average as the signal line? So for a cross above its 50MA change the last line to this:

    RMI CrossesAbove MA(RMI, BARS=50)

    1 user thanked author for this post.
    #64855
    Matthew
    • Topics: 1
    • Replies: 2
    • Posts: 3

    Appreciate it! This should do the trick.

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