Relative Momentum Index indicator free
Description
Relative Momentum Index indicator script. This indicator was originally developed by Roger Altman (Stocks & Commodities V. 11:2 (57-60)).
Use this indicator as trade zones; for long when indicator value is above level 70; for short when indicator value is below level 30
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Formula / Source Code
using System; using cAlgo.API; using cAlgo.API.Internals; using cAlgo.API.Indicators; using cAlgo.Indicators; namespace cAlgo { [Levels(30, 50, 70)] [Indicator(IsOverlay = false, AccessRights = AccessRights.None)] public class mRelativeMomentumIndex : Indicator { [Parameter("RMI Periods (14)", DefaultValue = 7)] public int inpPeriodsRMI { get; set; } [Parameter("Momentum Periods (10)", DefaultValue = 5)] public int inpPeriodMomentum { get; set; } [Output("Relative Momentum Index", LineColor = "Black", PlotType = PlotType.Line, Thickness = 1)] public IndicatorDataSeries outRMI { get; set; } private IndicatorDataSeries _bulls, _bears, _rmi; private double delta; protected override void Initialize() { _bulls = CreateDataSeries(); _bears = CreateDataSeries(); _rmi = CreateDataSeries(); } public override void Calculate(int i) { delta = i > inpPeriodMomentum ? Bars.ClosePrices[i] - Bars.ClosePrices[i - inpPeriodMomentum] : Bars.ClosePrices[i] - Bars.TypicalPrices[i]; _bulls[i] = ((i > 1 ? _bulls[i - 1] : 50.0) * (inpPeriodsRMI - 1) + (delta > 0.0 ? +delta : 0.0)) / inpPeriodsRMI; _bears[i] = ((i > 1 ? _bears[i - 1] : 50.0) * (inpPeriodsRMI - 1) + (delta < 0.0 ? -delta : 0.0)) / inpPeriodsRMI; if (_bears[i] != 0.0) _rmi[i] = 100.0 - 100.0 / (1 + _bulls[i] / _bears[i]); else _rmi[i] = 50.0; outRMI[i] = _rmi[i]; } } }
Comments

"Use this indicator as trade zones; for long when indicator value is above level 70; for short when indicator value is below level 30"
I dont not belive this to be correct according to the screen shot YOU provided - i think you meant <30 go long, > 70 go short