 File Name: RMI_Alternative.efs
Description: Relative Momentum Index (RMI)  Alternative
Formula Parameters: Length : 5 Y : 10
Notes: This is an alternative RMI version. The Relative Momentum Index (RMI) was developed by Roger Altman. Impressed with the Relative Strength Index's sensitivity to the number of lookback periods, yet frustrated with it's inconsistent oscillation between defined overbought and oversold levels, Mr. Altman added a momentum component to the RSI. As mentioned, the RMI is a variation of the RSI indicator. Instead of counting up and down days from close to close as the RSI does, the RMI counts up and down days from the close relative to the close xdays ago where x is not necessarily 1 as required by the RSI). So as the name of the indicator reflects, "momentum" is substituted for "strength".
Download File: RMI_Alternative.efs
EFS Code:
/*********************************Provided By: eSignal (Copyright c eSignal), a division of Interactive Data Corporation. 2009. All rights reserved. This sample eSignal Formula Script (EFS) is for educational purposes only and may be modified and saved under a new file name. eSignal is not responsible for the functionality once modified. eSignal reserves the right to modify and overwrite this EFS file with each new release.Description: Relative Momentum Index (RMI)  Alternative Version: 1.0 05/04/2009 Formula Parameters: Default: Length 5 Y 10Notes: This is an alternative RMI version. The Relative Momentum Index (RMI) was developed by Roger Altman. Impressed with the Relative Strength Index's sensitivity to the number of lookback periods, yet frustrated with it's inconsistent oscillation between defined overbought and oversold levels, Mr. Altman added a momentum component to the RSI. As mentioned, the RMI is a variation of the RSI indicator. Instead of counting up and down days from close to close as the RSI does, the RMI counts up and down days from the close relative to the close xdays ago where x is not necessarily 1 as required by the RSI). So as the name of the indicator reflects, "momentum" is substituted for "strength". **********************************/var fpArray = new Array();var bInit = false;function preMain() { setStudyTitle("RMI"); setCursorLabelName("RMI", 0); setDefaultBarFgColor(Color.red, 0); setStudyMax(101); setStudyMin(1); var x = 0; fpArray[x] = new FunctionParameter("Length", FunctionParameter.NUMBER); with(fpArray[x++]) { setLowerLimit(1); setDefault(5); } fpArray[x] = new FunctionParameter("Y", FunctionParameter.NUMBER); with(fpArray[x++]) { setLowerLimit(1); setDefault(10); }}var xRMI_a = null;function main(Length, Y) {var nBarState = getBarState();var nRMI_a = 0; if (nBarState == BARSTATE_ALLBARS) { if (Length == null) Length = 5; if (Y == null) Y = 10; } if (bInit == false) { xRMI_a = efsInternal("Calc_RMI_a", Length, Y); bInit = true; } nRMI_a = xRMI_a.getValue(0); if (nRMI_a == null) return; return nRMI_a;}var bSecondInit = false;var xMOM = null;var xUpAvg = null;var xDownAvg = null;function Calc_RMI_a(Length, Y) {var nRes = 0;var nUpAvg = 0;var nDownAvg = 0; if (bSecondInit == false) { xMOM = mom(Y); xUpAvg = efsInternal("Calc_UpAvg", Length, xMOM); xDownAvg = efsInternal("Calc_DownAvg", Length, xMOM); bSecondInit = true; } nUpAvg = xUpAvg.getValue(0); nDownAvg = xDownAvg.getValue(0); if (nUpAvg == null  nDownAvg == null) return; if(nUpAvg + nDownAvg != 0) { nRes = 100 * nUpAvg / (nUpAvg + nDownAvg); } return nRes; }function Calc_UpAvg(Length, xMOM) {var nRes = 0;var nRef = ref(1);var nVal = xMOM.getValue(0); if (xMOM.getValue(1) == null) return; if(nVal < 0) nVal = 0; nRes = (nRef * (Length  1) + nVal) / Length; return nRes;}function Calc_DownAvg(Length, xMOM) {var nRes = 0;var nRef = ref(1);var nVal = xMOM.getValue(0); if (xMOM.getValue(1) == null) return; if(nVal >= 0) { nVal = 0; } else { nVal = nVal; } nRes = (nRef * (Length  1) + nVal) / Length; return nRes;} 
