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Relative Momentum Index (RMI)
----- Original Message -----
From: "Owen Davies"
To: <metastock@xxxxxxxxxxxxx>
Sent: zaterdag 13 mei 2000 17:21
Subject: Re: Relative Momentum Index


> Ton Maas wrote:
>
> The closest I can find is "double smoothing the standard RSI"
> {Relative Momentum Index}
> Mov(Mov(RSI(14),5,S),5,S)
> {or use 2 or 3 for last period's smoothing}

Thanks for trying, but I don't think this is it. In the RMI(A, B), the A appears to be a period variable equivalent to the period of the RSI. The B is a momentum variable. It's something like RSI(C - Ref(C, -B), A). However, there is some smoothing going on as well, and I can't tell how that is done, unless it's the Wilder's smoothing described farther down in the original reply.

That competing program from Miami allows us to do this: RSI(C - C[N], K), where K is the period of the RSI and [N] is equivalent to the Ref time variable. It produces an indicator that follows pretty much the same patterns as the Metastock formulation of the RMI, but is extremely jagged by comparison. I don't know whether or not it incorporates Wilder's smoothing.

Will try rewriting the function from the ground up, including Wilder's smoothing and see whether it makes a difference.

Thanks again.

Owen Daviess


Re: Relative Momentum Index

· To: "Metastock-List" <metastock@xxxxxxxxxxxxx>
· Subject: Re: Relative Momentum Index
· From: "A.J. Maas" <anthmaas@xxxxxxxxx>
· Date: Sun, 14 May 2000 02:43:46 +0200
· Organization: Ms-IRB
· References: <000801bfbb39$b282a6a0$7160a4c1@xxxxx>
· Reply-To: metastock@xxxxxxxxxxxxx
· Sender: owner-metastock@xxxxxxxxxxxxx

Note that the build-in Equis' Momentum-custom formula is 'dividing' written as follows

(C/Ref(C,-12))*100

whereas your Momentum is 'substracting' written

(C-Ref(C,-12))*100

both referencing to the same earlier date and where for both too the multiplying by 100 factor is only added, since that it is used for Y-scale plotting only and not for/of real true value for the prime contents of the formulas.

Then based on the Equis' RSI-custom formula printed in previous mail, and on the above Momentum-custom formula, find below the RMI (note: in the way that you have described it and below is not the same RMI version as the MSK buid-in version).

Relative Momentum Index

Q:=Input("RSI Time Periods",1,1000,14);
M:=Input("Momentum Time Periods",1,1000,5);
B:=Input("Field: 1=Close, 2=Open, 3=High, 4=Low, 5=Volume",1,5,1);
Bval:=If(B=1,C,If(B=2,O,If(B=3,H,If(B=4,L,V))));
Mom:=Bval-Ref(Bval,-M);

Z:=Wilders(If(ROC(Mom,1,$)>0, ROC(Mom,1,$),0),LastValue(Q));

Y:=Wilders(If(ROC(Mom,1,$)<0, Abs(ROC(Mom,1,$)),0),LastValue(Q));

RMS:=Z/Y;
RMIcust:=100-(100/(1+RMS));
Mov(RMIcust,M,S)

 

e-w-Relative_Momentum_Index_RMI.gif
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx

Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas

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