Bagovino Method

does RMI come with metatrader?
i dont see it

<TABLE class=tborder cellSpacing=1 cellPadding=6 width="100%" align=center border=0><TBODY><TR title="Post 137053" vAlign=top><TD class=alt1 align=middle width=125>bagovino</TD><TD class=alt2>Thatchman,


Can you post some screen shots reinforcing the idea?

B.</TD></TR></TBODY></TABLE>

Bagovino

For now I am attaching a GIF with a 1hr USD/CAD chart (having issues with MS Paint & screenshot resizing which I will sort out later). Three examples , red arrows & Smiley faces for good signal, red arrow & sad face for false signal. There are innumerable examples when the RSI will cross & recross in the opposite direction but the RMI will not. This is not foolproof but will hopefully increase the strike rate of the Bagovino method.

You will immediately notice that the RMI is much more smoothed than the RSI and I think we all know the advantages of a smoothed indicator over a normal indicator. Most of you guys use Metatrader, I don't but I'm sure the guys there can sort out the indicator for those of you that are interested.

"The RMI is a variation of the RSI indicator. The RMI counts up and down days from the close relative to the close x-days ago (where x is not limited to 1 as is required by the RSI) instead of counting up and down days from close to close as the RSI does.
Note that an RMI with parameters of C, 14, 1 is equivalent to a 14 period RSI of the Close price. This is because the momentum parameter is calculating only a 1-day price change (which the RSI does by default). As the momentum periods are increased the RMI fluctuations become smoother.
Since the RMI is an oscillator it exhibits the same strengths and weaknesses of other overbought / oversold indicators. During strong trending markets it is likely that the RMI will remain at overbought or oversold levels for an extended period of time. However, during non-trending markets the RMI tends to oscillate more predictably between an overbought level of 70 to 90 and an oversold level of 10 to 30."

This quote perhaps best illustrates the (relative) strengths & weaknesses of these 2 indicators.

As soon as I have sorted out MS Paint is will attach some screenshots directly onto the thread

Thatchman


<?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" /><v:shapetype id=_x0000_t75 stroked="f" filled="f" path="m@4@5l@4@11@9@11@9@5xe" oreferrelative="t" o:spt="75" coordsize="21600,21600"></v:shapetype>
<v:shapetype stroked="f" filled="f" path="m@4@5l@4@11@9@11@9@5xe" oreferrelative="t" o:spt="75" coordsize="21600,21600"></v:shapetype>

I see screenshot is there, RMI is top indicator, RSI below.

Thatchman

In this case there is a good example, 3rd arrow on RSI (bottom indicator) where it crosses 50 line but RMI doesn't approach 50 line.

It doesn't seem to!.
I've been looking everywhere for it, including the indicators catalogue, but no sign!!

If anyone knows of its whereabouts, would appreciate a link to it.


Regards

DS

Colin Bruner aka GeeSeven,

Have u remembered about posting of Keltner bands?

Do you mean for me to attach the indicator? Also just do a Google search for the MetaTrader websites and you will find many indicators there. Also I think I downloaded it here on Forex Factory somewhere, maybe in the MT4 forum.

Thanks Collin. Reason I ask even though I can Google it is the indicator name "Keltner ....mq4 may not be the same as what u r using. A name is only a name. What is important is the engine (or rather the code underlying it).

Quote:
<TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by clam61
does RMI come with metatrader?
i dont see it
</TD></TR></TBODY></TABLE>
Disinclair 999, Clam 61 - This is the formula for RMI if you want to write your own Metatrader indicator. I repeat that I don't use Metatrader, nor am I a programmer, but I hope this is of some assistance in the eternal quest:

Mom:= price - ref(price,-momper);
Rms:= Wilders(If(Mom>0,Mom,0),rmiper) / Wilders(If(Mom<0,Abs(Mom),0),rmiper);
_RMI:= 100-(100/(1+RMS));

Thatchman


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I dont think Im allowed to post links to other websites....But I see everyone has trouble with screen capture and I know of a great FREE program that works great for this!

http://www.faststone.org/FSCaptureDetail.htm

I think I have one that does this but will have to look on my other computer for it so will post later.

Ok Ok

Who Made the most pips today?

the banks

I never mind posting something I use as long as I can figure out how to post it, LOL. I've replied a lot here but that was the first indicator I posted up for someone to fetch. Anyway, somewhere in the "niche" area of the Metatrader forum there is a zipped file with about 40 or more indicators. I originally found it in there. You might want to get that file as it contains lots of system ideas and indicators. Pivots, MAs, Camarillo, etc. etc.

do you guys avoid red calendar days?

Hey bago, just had a few questions for you.

1. do you trade the signal regardless of which way the market is trending?

2. With the vegas 1hr indicator, when the market is on the outer fibs, do you place your take profits on the indicator lines or relative to the market? In other words, when the market leaves the tunnel, the take profits are 34, 55 & 89 pips away from the tunnel, which seems to go in an ascending manner. On the outer fibs, this is reversed where is seems that you place your t/p's in a reverse order (as in greater gaps going to smaller gaps on the way back to the tunnel, from 89 to 55 to 34 etc.) Should you use the same T/P method relative to the tunnel (35, 55, 89 pips away from the price, or just use the vegas 1hr lines?

thanks.

I have a question....

Why does my thread only have 4 stars??? It should be 10 stars ****

Help is appreciated!

Bagovino

Just kidding!

Do you trade retracements?

Pound hasn't closed over RSI today but euro and yen are set up to something. Looking forward to Sunday night!

p.s. it always amuses me that I now look forward to Sunday nights, never thought I'd feel that way in this lifetime! In fact, I'll acknowledge it now as: got a day back.