Also take note — No DLL’s allowed! You MUST include a detailed description and a screenshot! I am self taught and although this ttm scalper alert thinkorswim forex has shown to be reliable and stable, the bulk of his work is advanced and credit should go to him. Changed the C-Rema and T-Rema OB and OS plots so that when they expand the new values are recorded immediately rather than waiting for a pull back.
This results in the plot lines being a curve rather than being step-wise. OS channel lines exactly match the C and T Rema plots they may be hidden until those plots pull back. The OB and OS can be optionally and independently set to contract. This version fixes a problem when the indicator is used with certain currencies. In these situations the various lines indicating Overbought and Oversold channels are not calculated. OS channel lines are not calculated the Breakout lines are not calculated either. Note: If you are not having this problem then it isn’t necessary to install this version as a new one will be out shortly that includes this fix and some new enhancements.
This indicator is an extension of the indicator found here. It was release separately rather than updating the existing one because of the experimental nature of some of the enhancements. The value of them in trading has not been determined. Note: The REMA indicator included is unaltered from the one installed with the MultiREMA and need not be installed again.
Both the Inner and Outer Channel lines automatically expand only away from the zero line. Dynamic OB and OS Channel Expansion. The Inner channel works in a similar manner except the Trend Plot line is used rather than the Cycle Plot line. Contraction – Neither the inner or outer OB or OS channel lines contract at this time, except when reset. OS line times a user specified percentage. Both the Long and Short breakout lines are calculated using the same percentage.
The breakout lines are recalculated when the inner channel lines are adjusted. From ‘Tackling trending and ranging markets with CMI’, by Daniel Fernandez, currencytrader. This indicator shows the change in price of an instrument as a percentage of the range over the same time period. If price started the period at one extreme of the range and ended at the other extreme, percentage will be 100.