backtrader.indicators.rmi module

Relative Momentum Index Module - RMI indicator.

This module provides the Relative Momentum Index (RMI) developed by Roger Altman as a variation of RSI.

Classes:

RelativeMomentumIndex: RMI indicator (alias: RMI).

Example

class MyStrategy(bt.Strategy):

def __init__(self):

self.rmi = bt.indicators.RMI(self.data, period=20, lookback=5)

def next(self):

# RMI above 70 indicates overbought if self.rmi.rmi[0] > 70:

self.sell()

# RMI below 30 indicates oversold elif self.rmi.rmi[0] < 30:

self.buy()

class backtrader.indicators.rmi.RelativeMomentumIndex

Bases: RelativeStrengthIndex

Description: The Relative Momentum Index was developed by Roger Altman and was introduced in his article in the February 1993 issue of Technical Analysis of Stocks & Commodities magazine.

While your typical 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. The result is an RSI that is a bit smoother.

Usage: Use in the same way you would any other RSI. There are overbought and oversold zones, and can also be used for divergence and trend analysis.

See:

• https://www.marketvolume.com/technicalanalysis/relativemomentumindex.asp

• https://www.tradingview.com/script/UCm7fIvk-FREE-INDICATOR-Relative-Momentum-Index-RMI/

• https://www.prorealcode.com/prorealtime-indicators/relative-momentum-index-rmi/

alias = ('RMI',)

linealias = (('rsi', 'rmi'),)

plotlines = <backtrader.metabase.plotlines_obj object>

frompackages = ()

packages = ()