This Indikator called Relative Momentum Indikator, and is an modern improvment, based on the well known RSI. Surprisingly it is not part of NT.
Description:
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!
| Created By | Trendseek |
| NinjaTrader Version | 7 |
| File Size | 2.3 KB |
| Create Date | 06/28/2010 |
| # of Downloads | 1356 |
Importing to NinjaTrader 7 is Easy!
To import your 3rd party app or add-on to NinjaTrader, simply follow these 3 steps:
- Download the app or add-on file to your desktop
- From the NinjaTrader Control Center window, select the menu File > Utilities > Import NinjaScript
- Select the downloaded file from your desktop
Questions?
Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.