RMI

Like in case of all overbought/oversold indicators, the RMI shows similar positive and negative sides. When the markets are in strong trend, the RMI will stay at overbought or oversold levels for a long period.

The RMI is derived from the Relative Strength Index (RSI). While RSI counts up and down days from close to close, the Relative Momentum Index counts up and down days from the close relative to a close x number of days ago.

Relative Momentum Index (RMI): The RMI is a variation of the Relative Strength Index (RSI).

Relative Momentum Index (RMI): The RMI is similar to the Relative Strength Index but is improved by eliminating the oscillations between defined oversold and overbought levels through the introduction of momentum.

Relative Momentum Index (RMI)(PROFESSIONAL subscribers only): This is Roger Altman's momentum variation on Welles Wilder's Relative Strength Index, RSI. Instead of accumulating +/- price changes, RMI accumulates changes in momentum.

This resulted in a legal dispute with Microsoft after Sun claimed that the Microsoft implementation did not support RMI or JNI and had added platform-specific features of their own.

Rainbow Charts
Rainbow Oscillator
Rator of Change (ROC)
Relative Momentum Index (RMI)
Relative Strength Index (RSI)
Relative Vigor Index (RVI) ...

See also: Market, Relative Momentum Index, Analysis, Relative strength index, Chart