RMI Trend Sniper Indicator

RMI Trend Sniper Indicator

RMI Trend Sniper: An Innovative Trading Indicator

The RMI Trend Sniper indicator is designed to identify market trends and trading signals with remarkable precision.

This tool combines the analysis of the Relative Strength Index (RSI) with the Money Flow Index (MFI) and a unique approach to range-weighted moving average to offer a comprehensive perspective on market dynamics.

Configuration and Indicator Parameters

The RMI Trend Sniper allows users to adjust various parameters according to their trading needs, including:

  • RMI Length: Defines the calculation period for the RMI.
  • Positive and Negative Momentum (Positive above / Negative below): Sets thresholds to determine the strength of bullish and bearish trends.
  • Range MA Visualization (Show Range MA): Enables users to visualize the range-weighted moving average, along with color indications to quickly identify the current market trend.

How the Indicator Works

The RMI Trend Sniper is based on the modified RSI and MFI calculation logic to assess buying or selling pressure in the market.

Through a weighted average, the indicator adjusts sensitivity to price changes, providing more accurate signals.

The inclusion of an analysis based on the range of bars (Bar Range) allows for a detailed visual representation of price fluctuations, highlighting areas of potential trend reversal or continuation.

Interpretation of Signals

The signals generated by the RMI Trend Sniper are displayed on the chart as changes in the color of the bars and moving averages, along with labels marking the suggested entry points:

  • Bullish Trend: Indicated by shades of blue and the appearance of green labels, suggesting an opportune moment to consider long positions.
  • Bearish Trend: Signaled by shades of red and red labels, indicating potential opportunities to enter short positions.

Trading Strategies and Applications

The RMI Trend Sniper is suitable for a wide range of trading strategies, from scalping to swing trading, thanks to its ability to adapt to different time frames and markets. Traders can use this indicator to:

  • Identify entry and exit points based on the strength and direction of the trend.
  • Complement other technical analysis tools to confirm trading signals.
  • Implement risk management strategies by identifying changes in market trend.

ProRealtime Code

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

PRC is also on YouTube, subscribe to our channel for exclusive content and tutorials

  1. luiskohnen • 80 days ago #

    Parece un excelente indicador, lo voy a analizar. Muchas Gracias

  2. lkiklkik • 79 days ago #

    merci ! which time frame would be the best .?

    • Iván • 78 days ago #

      Depends on the asset you are trading, so you need to test it first.

  3. Raspete01 • 78 days ago #

    Iván, muchas gracias. Es una gran ayuda la combinación de ambos índices, por lo que he visto funciona muy bien.

  4. Stenozar • 75 days ago #

    Hi Ivan, can you translate from tradingviwe the EMA TREND METER INDICATOR? It couid be interesting to add it under the chart in addiction with this indicator.

    • Iván • 74 days ago #

      Yes I can. Please, create a new topic for that I will translate it.

  5. Stenozar • 73 days ago #

    Hi Ivan, I’ve created a new topic about the indicator: https://www.prorealcode.com/topic/ema-trend-meter-indicator/

  6. Lean • 27 days ago #

    Me parece muy buen indicador, y se complementa muy bien en mi sistema, ¿podrías crear un screener de este indicador? Muchas gracias por todo el material. Eres un crack!

    • Iván • 26 days ago #

      Gracias! Para el screener sólo tienes que copiar el indicador y poner como condición de búsqueda lo que genera las flechas hacia arriba y hacia abajo. Por ejemplo, para localizar largos setup[positive and not positive[1]].
      al crear el screener te dirá que hay variables que no se usan. Sólo tienes que eliminarlas y listo.

  7. Lean • 26 days ago #

    Muchas gracias Iván, ya lo he podido crear.

Register or


avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
Alai-n Congratulations on this work !
Faisalx ChatGPT Hola Iván. Gracias por tu excelente trabajo. Te agradecería si pudieras echarle un...
Iván ok, perfecto! me pongo con ello
Faisalx Hola Ivan. Thanks for your great job. I would appreciate if you have look at my request http...
roccafragius Thank you for all these useful information!! Very great job Ivan! THank you so much
geroniman Merci Ivan, super travail. On peut toujours compter sur toi pour apporter des innovations su...
Stenozar Ciao mi restituisce errore line 1; forse è perchè utilizzo la versione 11 ? in questo caso d...
Stenozar Ciao IVAN , mi da errore per la riga 49 "print tema low"; puoi suggerirmi la modifica da met...
Iván Avete provato a scaricare il file .itf?
Iván Allora crei un nuovo post. Lo aspetterò.
Stenozar Ciao Ivan, ho inserito il post con la richiesta di traduzione. Se puoi vedere, grazie!
Iván perfect!
kats Bonsoir, Pensez vous pouvoir répondre à ma question posée ci dessus? Ce serait vraiment tr...
Iván Bonjour L'ensemble de l'indicateur est alimenté à partir de la ligne 9 avec la définition d...
kats BONSOIR c bon merci j ai trouve ce weekend merci de votre reponse cdlt
2 months ago
luiskohnen This indicator re-paint?
Iván Hi, Sorry, but what do you mean?
luiskohnen Hola, queria saber si el indicador repinta, porque a mi me parecio que si. Saludos y gracias...
Gaspare Ciao Ivan si puo' inserire una strategia su questo indicatore per ottimizzare le variabil...
2 months ago
Iván Si lo descargas e importas en tu PRT verás que se han creado las variables para luego config...
WhyAskOZ Hi, Ivan As always you are doing great coding. The code works on my PRT, however the issu...
Iván You can delete in the last line (return) the configuration for color. Delete coloured(xx,xx,...
P. Marlowe Quite an impressive work, Iván. Extremely useful and accurate. Congratulations. Keep it up¡
lkiklkik i love it !!! thanks.
Doddge Hola Iván, ¿sería posible crear un screener que indique cuándo las velas coloreadas del indi...
RTR Ivan thank you for the pro-screener. I a trying to understand how to write the signals from ...
Iván Hi, Lines 62 and 63. These lines define buy and sell conditions.
Iván Hi You should delete from the indicator code all drawing functions and all variables not us...
Iván I've created a screener to show [longcondition or shortcondition]
Chrisinobi Hallo Ivan, Danke das ist Perfekt !! Kannst du bitte in der Screener-Bibliothek die itf. hoc...
MaoRai54 Thanks, now it's OK. in your first code at line 15-16 it's missing.
Madrosat Hello Ivan Did you try a strategy with this indicator
Iván Hi. No I didn't. This is a code translation requested by an user a few days ago.
4 months ago
cjr30 Simplemente modifica las lineas 19 y 21 por las siguientes: drawtext("▲",barindex,low-0.1*a...
groelandes Gracias!!
WhyAskOZ i copied the code into strategy and it gives error on line 21 and 23. it says " Line 1: ...
4 months ago
Madrosat Hello Ivan You have interesting topics on indicators , smart supertrend, optimised trend t...
Iván Hi! thanks. All of these codes are translations requested in the forum. I've on mind to back...
Raspete01 Buenos días Iván, estoy intentando llevar el código eliminando los colores y pasando un Back...
4 months ago
ARLEQUIN49 Hello Ivan, Would it be possible to convert the code of this QQE MOD indicator which accomp...
ARLEQUIN49 here is the code: //@version=4 //By Glaz, Modified // study("QQE MOD") RSI_Period = i...
Iván Hi, Yes I can translate it but please, create a new topic for it.
Fgats quelques explications en Français ici : Some explanations in French here : https://www.p...
Nicolas Merci pour cette contribution, j'apprécie ! :)
Fgats Merci Nicolas pour ces encouragements et merci aussi pour le commentaire en Anglais accompa...
7 months ago