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[User Discussion] - RMI - Relative Momentum Index

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[2013-11-14 18:42:06]
[Go To First Post]
Ronin - Posts: 35
Hello support,

I've added the RMI study to some of my graphs but I noticed that ur calculation is different from other softwares I usually use RMI on.
I made a comparison with other software (pic attached) on 15 min charts
the difference can be noticed on other softwares as well and on other time frames - can u please check whether ur formula is different?

thank you
Attachment Deleted.
imageRMI.png / V - Attached On 2013-11-14 18:41:42 UTC - Size: 167.09 KB - 828 views
Attachment Deleted.
[2013-11-14 22:05:02]
[Go To First Post]
Sierra Chart Engineering - Posts: 104368
The formula could be different.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
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Date Time Of Last Edit: 2013-11-14 22:05:42
[2013-11-15 11:21:21]
[Go To First Post]
Ronin - Posts: 35
Is is possible to create another version of it since the "feeling" and effectiveness of it is quite different
would it be helpful if I post some codes for it?

thank you for ur help
[2013-11-15 11:28:38]
[Go To First Post]
ganz - Posts: 1048
Ronin

post the code.
i could try. /it takes time/
[2013-11-15 11:56:02]
[Go To First Post]
Ronin - Posts: 35
thank you ganz!

I have several links from different softwares I thought might help

explanations:
http://www.tradingsolutions.com/functions/RelativeMomentumIndex.html
http://www.fxtimes.com/glossary/relative-momentum-index-rmi/

codes:

http://www.wisestocktrader.com/indicators/443-relative-momentum-index

other:
http://www.mql5.com/en/code/1786

thanks for the help
Date Time Of Last Edit: 2013-11-15 18:46:32
[2013-11-15 15:10:05]
[Go To First Post]
U_winks - Posts: 190
+100 for ganz.. :)
[2013-11-15 15:41:53]
[Go To First Post]
ganz - Posts: 1048
Ronin

You provide a number of sources.
I'm not familiar with RMI and I prefer have no indi on my charts.
So pls provide the only one source you believe in /that meet your needs/

Also did you check User Contributed Studies?

thnx

40winks

:)
Date Time Of Last Edit: 2013-11-15 15:43:02
[2013-11-15 19:59:10]
[Go To First Post]
Ronin - Posts: 35
Hey Ganz,

Yes, I've checked the user contributed studies but haven't seen any

pls check this link for the AFL code

http://www.wisestocktrader.com/indicators/443-relative-momentum-index
http://www.niftylivecharts.com/blog/relative-momentum-index/
[2013-11-16 15:22:20]
[Go To First Post]
ganz - Posts: 1048
Hey Ronin,

I've looked at the links and didn't see any code

Let's look into it:


/* Relative Momentum Index */
/* AFL code by Prakash Shenoi */

Length=Param("Length?",2,3,20,1);//default =14 or 20
mom=Param("Momentum?",2,3,11,1);//default = 4 or 5
xRMI = RMI(Length,mom);
Plot(xRMI, " Relative Momentum Index ("+WriteVal(Length,1.0)+")", 34+4,1 + styleThick);
Plot(70,"",colorDarkGrey,styleDashed|styleNoLabel);//OS
Plot(30,"",colorDarkGrey,styleDashed|styleNoLabel);//OB
Buy = Cross( xRMI, 30 );
Sell = Cross( 70, xRMI );
PlotShapes( shapeUpArrow * Buy + shapeDownArrow * Sell, IIf( Buy, colorGreen, colorRed ) );
GraphXSpace=5;
/*Buy and Sell Conditions*/
Buy = Ref(xRMI,-1)<40 AND xRMI > Ref(xRMI,-1);
Sell = Ref(xRMI,-1)>70 AND xRMI < Ref(xRMI,-1);

Buy = ExRem(Buy,Sell);
Sell = ExRem(Sell,Buy);
/*End Buy and Sell Conditions*/

rmi part is:

Length=Param("Length?",2,3,20,1);//default =14 or 20
mom=Param("Momentum?",2,3,11,1);//default = 4 or 5
xRMI = RMI(Length,mom);
Plot(xRMI, " Relative Momentum Index ("+WriteVal(Length,1.0)+")", 34+4,1 + styleThick);
Plot(70,"",colorDarkGrey,styleDashed|styleNoLabel);//OS
Plot(30,"",colorDarkGrey,styleDashed|styleNoLabel);//OB

rmi is

Length=Param("Length?",2,3,20,1);//default =14 or 20
mom=Param("Momentum?",2,3,11,1);//default = 4 or 5

>>> xRMI = RMI(Length,mom); <<<


so we have no code for RMI from amibroker - this is the "black box"

but we have the full code from SC: ASC_Source/studies7.cpp/line_5035

i'll do some research about RMI to compare with the info http://www.tradingsolutions.com/functions/RelativeMomentumIndex.html

in case you have this info: Altman's Relative Momentum Index (S&C Feb 1993) - pls let me know
Date Time Of Last Edit: 2013-11-16 15:23:32
[2013-11-16 17:33:19]
[Go To First Post]
Ronin - Posts: 35
thank you Ganz,

I've found some more useful explanations:

http://www.forex-tribe.com/Learn-Technical-Indicator-relative-momentum-index.php

http://help.iitech.dk/ClientStation2/simulation/Content.aspx?Lang=en&DefaultLang=en&Client_Id=1159388&Topic=2484

http://www.niftylivecharts.com/blog/relative-momentum-index/

appreciate ur effort!
[2013-11-17 19:15:28]
[Go To First Post]
crazybears - Posts: 314
Hi

maybe it's useful
Date Time Of Last Edit: 2013-11-17 19:15:42
attachmentStoch RSI & Dynamic Momentum Index.pdf - Attached On 2013-11-17 19:15:07 UTC - Size: 512 KB - 11125 views
[2013-12-11 16:54:58]
[Go To First Post]
ganz - Posts: 1048
Ronin

this is how SC's RMI works:

indi starts in ASC_Source/studies7.cpp/line_5045

>> get starting point: max of RMI Length or RMI MA Length you've chosen

sc.DataStartIndex = max(RMILength.GetInt(), RMI_MALength.GetInt());

>> get values to calculate Momentum

float previousValue = sc.BaseDataIn[InputData.GetInputDataIndex()][sc.Index - RMILength.GetInt()];
float currentValue = sc.BaseDataIn[InputData.GetInputDataIndex()][sc.Index];

>> build +/- Momentum Arrays

if (currentValue > previousValue)
  {
    UpTempArray[sc.Index] = currentValue - previousValue;
    DownTempArray[sc.Index] = 0.0f;
  }
  else
  {
    UpTempArray[sc.Index] = 0;
    DownTempArray[sc.Index] = previousValue - currentValue;
  }

>> get MA values for +/- Momentum Arrays

sc.MovingAverage(UpTempArray, SmoothedUpTempArray, RMI_MAType.GetMovAvgType(), RMI_MALength.GetInt());
sc.MovingAverage(DownTempArray, SmoothedDownTempArray, RMI_MAType.GetMovAvgType(), RMI_MALength.GetInt());

>> calculate RMI as 100 * SmoothedUp / ( SmoothedUp + SmoothedDown )

if (SmoothedUpTempArray[sc.Index] + SmoothedDownTempArray[sc.Index] != 0.0f)
  {
    RMI[sc.Index] = 100 * SmoothedUpTempArray[sc.Index] / (SmoothedUpTempArray[sc.Index] + SmoothedDownTempArray[sc.Index]);
  }
  else
  {
    RMI[sc.Index] = RMI[sc.Index - 1];
  }

I'm not able to dig it down so I've no idea what's wrong w it /cause i dislike to use any MA based indi/

If you need to correct the formula pls let me know
Date Time Of Last Edit: 2013-12-11 17:00:09
[2013-12-11 17:00:31]
[Go To First Post]
ganz - Posts: 1048
crazybears

thnx
[2013-12-15 16:43:07]
[Go To First Post]
Ronin - Posts: 35
Thank you Ganz,

After comparing it again more deeply with 2 other software I realized that the difference was due to the default simple avg , while on the others it was on exp. moving average / wilders moving average

thanks again for ur effort!
[2013-12-15 17:12:37]
[Go To First Post]
ganz - Posts: 1048
Ronin

this is not the first case for me

looks like SC is too flexible :)

gd lck

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