rmoSwing | Mastock Help

Short Name: rmoSwing2 and rmoSwing3

Definition: RMO swings oscillators

Usage: rmoSwing2 or rmoSwing3

Objective:
  • Compute the RMO swing2 or swing3 indicators
  • Returns an array of values

Note:
  • RMO for Rahul Mohindar Oscillator, introduced by Metastock in 2006, is in fact a derivative of the Rainbow Oscillator created by Mel Widner in 1997.
  • RMO detects the primary trend. It needs to be used in conjunction with RMO Swing2/3, RMO Exit and the RMO trigger to get a full picture.
  • RMO swing2 detects the “sentiment”, positive is swing2 is positive
  • Swing3 crossing above or below Swing2 triggers buy and sell signals
  • RMO Exit is to be used, when you have a profitable trade, to help decide when to get out. For a long position, consider exiting when signal goes below the blue 75 line. For a short position, same when the signal goes above the red 25 line. This is a very conservative indicator, exiting then is usually safe but likely implies exiting before top or bottom.

Examples:
  • rmoSwing2
  • rmoSwing3