Relative Momentum Index (RMI)

Roger Altman's generalization of RSI, published in Technical Analysis of Stocks & Commodities (February 1993): momentum is measured as the close's change over a multi-bar span (default 5) instead of bar-to-bar, and Wilder-smoothing the up and down streams yields an oscillator from 0 to 100. The multi-bar span filters out bar-to-bar noise, so readings swing more decisively into overbought (70 and above) and oversold (30 and below) territory than RSI. With a one-bar span, RMI degenerates into RSI.

Live Demo

Pick a market regime to see how RMI(14) reacts:

Usage

import {RMI} from 'trading-signals';
 
// RMI yields results once 19 inputs have been added
const rmi = new RMI();