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RMI Indicator

3

The underlying strategy of this indicator is based on identifying momentum in the market and attempting to capture the direction of the trend through transitions between bullish and bearish moments. Utilizing bands around the RWMA allows for identifying potential overbought and oversold situations in the market.


1. Calculation of the Range Momentum Index (RMI):

  • The RMI is based on a combination of the Relative Strength Index (RSI) and the Money Flow Index (MFI), both of which are momentum indicators. 
  • First, changes in the closing price are calculated. Then, positive and negative movements are separately calculated and smoothed using a Recursive Moving Average (RMA). 
  • This smoothing is a method for reducing noise in the data. 
  • Subsequently, the RSI and MFI are calculated and averaged to obtain the RMI.

2. Definition of bullish and bearish moments:

  • Conditions are defined to identify bullish and bearish moments. These conditions are based on the relationship between the RMI, predefined thresholds (pmom and nmom), and the change in the Exponential Moving Average (EMA) of the closing price.

3. Calculation of the band and the Range Moving Averages (RWMA):

  • A custom band is calculated based on the Average True Range (ATR), which is defined around the RWMA. This band serves to define the range around the RWMA. 
  • The RWMA is calculated by dividing the range (High - Low) of the current candle by a weighted Moving Average (MA) of the closing prices. This is then displayed around the band.

3. Plotting and visualization:

  • The RWMA is plotted and colored according to the previously defined bullish and bearish moments. 
  • In addition, fills are created to mark the range around the RWMA. 
  • The candlesticks are colored based on the bullish and bearish moments.

4. Trading signals:

  • Trading signals are generated when the sign of the RWMA changes. A "BUY" signal is generated when the sign changes from negative to positive, and vice versa for a "SELL" signal.


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Las líneas de tendencia son la herramienta más esencial del análisis técnico en el comercio de divisas. Desafortunadamente, la mayoría de los comerciantes no los dibujan correctamente. El indicador de líneas de tendencia automatizadas es una herramienta profesional para comerciantes serios que lo ayuda a visualizar el movimiento de tendencia de los mercados. Hay dos tipos de Trendlines Bullish Trendlines y Bearish Trendlines. En la tendencia alcista, la línea de tendencia de Forex se dib
TPA True Price Action indicator reveals the true price action of the market makers through 100% non-repainting signals strictly at the close of a candle! TPA shows entries and re-entries, every time the bulls are definitely stronger than the bears and vice versa. Not to confuse with red/green candles. The shift of power gets confirmed at the earliest stage and is ONE exit strategy of several. There are available now two free parts of the TPA User Guide for our customers. The first "The Basics"
** All Symbols x All Timeframes scan just by pressing scanner button ** ***Contact me after purchase to send you instructions and add you in "123 scanner group" for sharing or seeing experiences with other users. After 17 years of experience in the markets and programming, Winner indicator is ready. I would like to share with you! Introduction The 123 Pattern Scanner indicator with a special enhanced algorithm is a very repetitive common pattern finder with a high success rate . Interestingly,
Auto Order Block with break of structure based on ICT and Smart Money Concepts (SMC) Futures Break of Structure ( BoS )             Order block ( OB )            Higher time frame Order block / Point of Interest ( POI )    shown on current chart           Fair value Gap ( FVG ) / Imbalance   -  MTF      ( Multi Time Frame )    HH/LL/HL/LH  -  MTF      ( Multi Time Frame )  Choch  MTF      ( Multi Time Frame )  Volume Imbalance     ,  MTF          vIMB Gap’s Power of 3 Equal High
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The indicator calculates reversal points based on the past trend and forms a channel (outer) on this basis. This elapsed time span from which the reversal points are determined can be specified in the settings. An inner channel is also drawn in white. The trend continues in this channel, if there is a sideways trend. Here the upper / lower line form the possible turning point. The indicator is suitable for all trading areas, whether forex, crypto, metals, indices or futures. All areas trade
This indicator shows you the higher high and lower low of a certain period of time. It is easy to use - select your desired time frame (current, 15Min, 1H, 1D) and the corresponding number of candles. The indicator measures the highest and lowest point within the specified range and automatically draws the two corresponding lines. The design of the lines is up to you! Should the trend break one of the drawn lines with a closed candle, a message will be sent to you by the built-in alarm f
The Universal Reversal EA is based on a reversal/pullback strategy of the current trend. Due to the wide range of applications, the EA can operate as a stand-alone EA, or due to the low risk settings, serve as a supplement to an existing trading setup. The solid backtests of more than 10 years show the durability of the EA under various market situations and global economic crises. The setting file can be found here   (Comments #1) .   Further explanations are below the settings. Universal Rev
The indicator calculates reversal points based on the past trend and forms a channel (outer) on this basis. This elapsed time span from which the reversal points are determined can be specified in the settings. An inner channel is also drawn in white. The trend continues in this channel, if there is a sideways trend. Here the upper / lower line form the possible turning point. The indicator is suitable for all trading areas, whether forex, crypto, metals, indices or futures. All areas trade
This indicator shows you the higher high and lower low of a certain period of time. It is easy to use - select your desired time frame (current, 15Min, 1H, 1D) and the corresponding number of candles. The indicator measures the highest and lowest point within the specified range and automatically draws the two corresponding lines. The design of the lines is up to you! Should the trend break one of the drawn lines with a closed candle, a message will be sent to you by the built-in alarm f
The Universal Reversal EA is based on a reversal/pullback strategy of the current trend. Due to the wide range of applications, the EA can operate as a stand-alone EA, or due to the low risk settings, serve as a supplement to an existing trading setup. The solid backtests of more than 10 years show the durability of the EA under various market situations and global economic crises. The setting file can be found here (Comments #1) .   Further explanations are below the settings. Universal Reve
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Habibu Asini Shabani
255
Habibu Asini Shabani 2024.03.13 05:53 
 

Well not so bad, but you need to think about upgrading your indicator because false signals and on top of that kindly add signals checklist for someone to follow before taking a trade.

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