Short Name: rmoExit

Definition: Proprietary formula similar to (but not identical) to the RMO Swing Exit indicator

Usage: rmoExit

  • Compute RMO Exit indicator
  • Returns an array of values

  • 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.

  • rmoExit

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