Relative Momentum Index (RMI)
Info
The Relative Momentum Index (RMI) is a Indicator for MetaTrader 5 that the relative momentum index (rmi) is a technical indicator that calculates the momentum of price changes over a specified period. It differs from the Relative Strength Index (RSI) in that it uses the price change for a specified period, rather than the price changes of two adjacent bars.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Relative Momentum Index (RMI)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
The Relative Momentum Index (RMI) is a technical indicator that calculates the momentum of price changes over a specified period.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Relative Moving Average (RMA) Indicator for MT5 - another powerful indicator for MetaTrader 5 traders.
The Relative Momentum Index (RMI) is a technical indicator that calculates the momentum of price changes over a specified period. It differs from the Relative Strength Index (RSI) in that it uses the price change for a specified period, rather than the price changes of two adjacent bars. The rest of the calculations are similar to RSI.Also recommended: multi-timeframe relative strength index (mtf rsi) indicator for mt4/mt5 - similar indicator with strong performance on MetaTrader 5.
The RMI has the following parameters:
- RMI Period: the period of RMI.
- Momentum Period: the period of momentum (with a value of 1, the indicator is identical to RSI).
The interpretation of the signal is the same as that of the Relative Strength Index:
- The tops and bottoms of the indicator are a little ahead of the formation of local price maximums and minimums.
- Graphical patterns, such as head and shoulders, that are not easy to recognize on price charts.
- Divergence.
The RMI was first published in February 2026.
You may also like: candle painting based on momentum and news impact - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_plots 1
#property indicator_label1 "rmi"
#property indicator_type1 draw_line
#property indicator_color1 clrdodgerblue.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.