The difference from RSI is that it uses price change for a specified period (i.e. the momentum) instead of the price changes of two adjacent bars. The rest of the calculations are similar to RSI. The indicator was developed by Roger Altman and was first published in February 1993 in the Technical Analysis of Stocks & Commodities magazine.
MT5 Indicator – Download Instructions
Relative Momentum Index (RMI) is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Relative Momentum Index (RMI) provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Relative Momentum Index (RMI).mq5?
- Download Relative Momentum Index (RMI).mq5
- Copy Relative Momentum Index (RMI).mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Relative Momentum Index (RMI).mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Relative Momentum Index (RMI).mq5 is available on your Chart
How to remove Relative Momentum Index (RMI).mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: