OPEN-SOURCE SCRIPT

FREE INDICATOR: Relative Momentum Index (RMI)

RMI, as requested by glaz

Description:
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 your typical 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. The result is an RSI that is a bit smoother.

Usage:
Use in the same way you would any other RSI. There are overbought and oversold zones, and can also be used for divergence and trend analysis .

Grab the source code here: pastebin.com/LRVusQmy
Installation video by ChrisMoody here : vimeopro.com/user14689865/tradingviewcom-how-to-videos

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