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Searching for entries matching nt6.5, looking in keywords for any words
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RMI - Indikator

Description:
This Indikator is a little improvment, based on the well known RSI. Surprisingly it is not part of NT. The Idea is, to compare Momenti instead of Prices over a given Period. The Distance between the two Prices within a Momentum ist specified by the "Shift" Parameter.

How to Use:
Period works like in the RSI. With "Shift = 1" the RMI shows the same behavior like the RSI. While increase the shift, the RMI becomes smoother compared to the RSI.
---> Erich Florik "New Trader Dimensions" suggest Values like 3/8 or 5/13 for very clear and better Trendsignals compared to the RSI

Interpretation:
above the upper Line (70-80) we have an up-Trend, below the lower Line (30-20) we have a down-Trend. But UNLIKE the RSI we have no oversold/overbought Situation in these regions!

To Import
1. Download the attached file to your desktop
2. From the Control Center window select the menu File > Utilities > Import NinjaScript
3. Select the downloaded file

Exported with NT 7.0.0.15

UPDATE 5/20/2010:
Now also should work with NT 6.5

Category NinjaTrader 7 Indicators

Details: RMI - Indikator
Category: NinjaTrader 7 Indicators

May 12th, 2010
Size: 2.27 KB
Downloaded: 690 times

Keywords: nt7 nt6.5