RMO- ATM counter trend indicator

[srichakra]

I use the RMO plugin and use the ATM counter trend indicator for some of the high beta stocks for day trading..
I feel dumb in using something without knowing what is its construction.

Seniors, will anybody know what is this based on so that I get an idea of how the prices may move based on the market dynamics.

If the formula is available , welcome. I came across the RMO code and got to understand the swing trading concepts better.

Thanks

 

[livermore by heart]

Firstly this so called RMO indicator is a hoax. COPIED STUFF.

Refer to the 1996 issue (I do not remember the month of publication) in which RAINBOX MAX and RAINBOW MIN indicators were introduced.

The RMO simply uses a 81 day moving average of the above indicator!!!

I suggest reading the orignal stuff.

The problem is that it works only in the trending market with bad failures in sideways market.

 

[jahan]

Firstly this so called RMO indicator is a hoax. COPIED STUFF.

Refer to the 1996 issue (I do not remember the month of publication) in which RAINBOX MAX and RAINBOW MIN indicators were introduced.

The RMO simply uses a 81 day moving average of the above indicator!!!

I suggest reading the orignal stuff.

The problem is that it works only in the trending market with bad failures in sideways market.

hello,

Ur right...its copied stuff.
and by just changing the period,he charging per month basis.

Regards,

 

[The Outlier]

hello,

Ur right...its copied stuff.
and by just changing the period,he charging per month basis.

Regards,

And people are paying per month basis

 

[awachat]

I dont see any point of paying just for new module. They have just not come with new module but they have come with new concept for using Meta-stock 12 we have to use there market data as well which we need to pay extra $850 which is currently available free on NSE website.

 

[aseefsh3001]

would these people really get the RETURNS what they pay atleast?:annoyed:

 

[karunakumari]

they say stop loss must be cut short and winners must run. RMO trade model is exactly the opposite. stop loss is placed 5 candles below the entry signal and target at 2.5ATR(which barely touches). all i can say is i feel bad for those who purchased it, including myself

 

[stock mkt rocks]

but we must admit -

the system looks very interesting and seems to work. So people who bought it may not be at fault.

But remember this quote all the time so as to avoid mistakes -
If its too good be true, chance are that it isin't.