What is RMO Trading System? Download it For Amibroker

Previously, we’ve written about the RMO, you may go through it. Today, we are again going to discuss RMO Trading System. The RMO Trading System contains four modules which are described below:

RMO Trading System- The RMO Ribbon

This module detects the main trend and used to be developed to smoothen out a couple of market swings.
If the RMO Ribbon is green, it indicates the long run / main trend is UP. In this case, we ideally search for blue Buy arrows with Blue bars to place on lengthy trade.

If the RMO Ribbon is red in color, it refers to the long run / main trend is DOWN. In this scenario, we search for Crimson Sell arrows with Purple bars to a position on brief trades.

Sentiment Detector

This RMO skilled colors the OHLC chart bars red (bearish) or blue (bullish) indicating the existing sentiment.

When the colored bars swap, it signals the primary indication of trend switch or breakout; this will also be simply seen with red and blue bars with the RMO Trading System that has been equipped. An extra established interpretation is to expecting energy when the excess of a blue breakout bar is crossed and weak spot when the low of a primary red down breakdown bar is breached.

Impulse Detector

This RMO prints the buy or sell signals, sell signal (bearish) or buy signal (bullish) indicating the present sentiment.

Exit Swing Indicator (ESI)

This module is used handiest when exiting a winning trade; it may well lend a hand us notice a trailing stop loss and likewise works smartly as a partial profit taking mechanism.

Most effective once you have entered a trade and are profitably into a longterm trend, must you employ the ESI. Imagine taking partial profits in longs under the low when the EXIT Swing Indicator leaves the over-sold area (ESI goes beneath seventy-five). Likewise, believe taking partial profits in a short trade above the excessive of the bar when the ESI exits the oversold area (ESI goes above 25 marks).

Below are two imaginable setups for the use of the RMO as a trading indicator.

“Trade with the Trend” Buy Setup
Swing Trading: BUY Arrow (Blue)
Sentiment: BLUE Bars
RMO: Green
This setup is a robust buy trade as the main trend is up, an upswing is an environment in and in addition the sentiment is bullish.
As we’re trading within the route of Major Pattern (RMO), this setup is much more correct & dependable.

“Aggressive BUY Breakout” Buy Setup
Swing Trading: BUY Arrow (Blue)
Sentiment: BLUE Bars
RMO: Red
With this setup, you might be primarily anticipating that the market sentiment will flip sure while you see the bars swap to a blue shade and the swing trade buy arrow displays up. Then again, as the principle trend (RMO) continues to be poor, it’s possible you’ll wish to believe trading in smaller quantities, a coated strategy, or simply by “name” options.

“Trade with the Trend” Sell Setup
Swing Commerce: SELL Arrow (Red)
Sentiment: Red Bars
RMO: Red
This setup is a robust sell trade as the main trend is down, a downswing is surroundings in and in addition the sentiment is bearish.
As we’re trading within the route of Main Pattern (RMO), this setup is much more correct & dependable.

“Aggressive SELL Breakdown” Sell Setup
Swing Commerce: SELL Arrow (Red)
Sentiment: RED Bars
RMO: Green
With this setup, you’re primarily anticipating that the market sentiment will flip terrible while you see the bars switch to a pink shade and the swing trade sell arrow presentations up. On the other hand, as the main trend (RMO) remains to be sure, chances are you’ll wish to believe trading in smaller quantities, a lined strategy, or simply buy “put” options.

RMO Trading System

We in StockManiacs.net have collected and tweaked a simple Amibroker AFL formula for this RMO Trading System. You can freely download and use the RMO Trading System Amibroker AFL codes by clicking the button below.

However, copy and paste the 2 AFL formulas into your Amibroker’s formula folder and attach them to your charts. Then you may instantly see the RMO trade setups in your Amibroker charting platform. You may also distribute this RMO Trading System Amibroker AFL codes to your friends, however, don’t forget to refer them to our website.

Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.



Categories: Amibroker

Tags: , , , , , , , ,

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Do you want at least RS. 5000 PROFITS EVERYDAY?YES, I WANT
+