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Relative Momentum Indicator-62713
Version 1
The Relative Momentum Indicator (RMI) consists of two oscillators plotted over the price bars without axis value. This means that the oscillators traverse the entire range of prices over the displayed number of bars on the chart. The RMI is a valuable tool in our trading method, called “Trading Between the Lines (TBL)”. We use the RMI in several different ways: 1. To locate support and resistance values for short term trading. 2. To predict the most likely near term price direction. 3. To predict a possible change in trend direction. 4. To monitor the strength of a price move. 5. To manage trailing stops during a trade. Obviously, the RMI is our most valued indicator used in the TBL trading system. The other indicators are customized versions of MACD/MACDHistogram, a Stochastic oscillator system and a standard Bollinger Bands
The Relative Momentum Indicator (RMI) consists of two oscillators plotted over the price bars without axis value. This means that the oscillators traverse the entire range of prices over the displayed number of bars on the chart. The RMI is a valuable tool in our trading method, called “Trading Between the Lines (TBL)”. We use the RMI in several different ways:
1. To locate support and resistance values for short term trading.
2. To predict the most likely near term price direction.
3. To predict a possible change in trend direction.
4. To monitor the strength of a price move.
5. To manage trailing stops during a trade.
Obviously, the RMI is our most valued indicator used in the TBL trading system. The other indicators are customized versions of MACD/MACDHistogram, a Stochastic oscillator system and a standard Bollinger Bands
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Developer
Requirements
Tradestation 9.1 (Update 12)
Asset Type
Future
Style
Intraday
Methodology
Other
Analysis Techniques
Applications