Introducing VRMI in this script, an RMI based on price movement and volume, to indicate bullish and bearish trends.
This script marks the background depending on RMI <> VRMI , VRMI polarity and large buy/sell sprees.
Based on 'The Relative Momentum Index' by Roger Altman : February, 1993 issue of Technical Analysis of Stocks &...
Set up to 3 SMA and 3 EMA. Thus, a total of 6 moving averages if you really like. This is a great means by which to easily identify which moving average setup is constantly being tested.
Change the lengths of each moving average.
Change styling of each moving average.
I started using this script because of its fast reaction, and good tell for buy/sell moments on a short timescale.
For larger timescales, the overall trend should be taken into account regarding the levels.
In the future i will update this indicator, to automatically adjust those.
The Relative Momentum Index was developed by Roger...
6 simple and 5 exponential Moving Averages in one indicator.
I made this because its not always easy to tell what average the price might be bouncing off from when you only have a couple at a time.
For some reason, the defaults aren't working.
To fix this, just open the configuration for the indicator after the first time that you load it.
This script plots three Simple Moving Averages instead of just one.
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Triple simple moving average. Use this to plot three averages with a single indicator instead of three individual ones.
Defaults are configured for 50, 100 and 200 interval averages. Adjust interval lengths to your desires.