RSI RMI with Range MA is an overlay momentum + trend indicator that blends RSI and MFI into a single composite momentum score, then uses that score to color candles and plot a range-weighted moving average (RWMA) as a dynamic trend guide. It’s built to help you stay aligned with bullish/bearish momentum regimes and clearly spot the exact bar where momentum flips.
How it works
RSI-MFI composite: RSI is calculated using RMA-smoothed gains/losses and MFI is calculated over the same RMI Length. The script then averages them into rsi_mfi.
Momentum regimes:
Positive momentum: triggers when rsi_mfi crosses up through Positive Above (default 66) while the 5-EMA is rising.
Negative momentum: triggers when rsi_mfi is below Negative Below (default 33) while the 5-EMA is falling.
Sticky state logic: Once a bullish/bearish regime triggers, it remains active until the opposite condition triggers. This helps reduce rapid flip-flopping.
RWMA baseline: A 20-period range-weighted moving average is computed using each candle’s range (high-low) as its weight (larger range = heavier influence).
Dynamic offset band: A Band is derived from ATR(30) vs a small % of price, and the code references a delayed value for the final distance. The plotted RWMA is shifted by this Band:
Bullish:rwma - Band
Bearish:rwma + Band
What you’ll see on the chart
RRTH line (thick): A shifted RWMA line that appears only when a bullish or bearish regime is active.
Candle + bar coloring:
Green = Positive momentum active
Red = Negative momentum active
Gray = No active regime
Flip labels:
LONG label on the first bar a Positive regime starts
SHORT label on the first bar a Negative regime starts
