REMEK! Momentum Pro standalones - Documentation
Part 4: Monitoring markets
Our Remek! Momentum Pro workspace allows you to monitor any number of markets for potential setups effectively. Let’s see how:
With Remek! Market Scanner Pro (part of our Remek! Momentum Pro Standalones) you can monitor as many markets as you wish, on the timeframes you wish. With the wise use of the quantitative information in the various columns, we can identify trading opportunities across a large number of instruments before they happen. Read on to see what aspect of market behaviour each column quantifies.
What the columns mean
Instrument: name of instrument
Day: number of days till futures contract expiry
RRR (Remek! Relative Returns): identifies unusual moves as measured in standard deviations. Values larger than +2 are marked in green, values less than -2 are marked red. We use it on dialy charts. Large movers of the previous day tend to remain volatile in the current session, giving us trading opportunities. (Notice that measuring volatility in standard deviation normalizes values across instruments.)
RIB identifies inside bars (compressed volatility) and long tails (potential emergence of momentum). Data supplied by Remek! Inside Bar.
HZ (Hotzones): Any consolidation areas (pullbacks) that fall within this zone are potentially significant and deserve attention.
Setup: Momentum setups as identified by the Remek! Momentum Pro algorithm on the 240min timeframe.
Signal: Momentum signals (triggers) as identified by the Remek! Momentum Pro algorithm on the 240min timeframe.
KSc (Keltner Score): Position of price as compared to the Keltner Channel. Values above +1 are outside the upper Keltner Channel, values less than -1 are outside the lower Keltner Channel. A value larger than +1 or less than -1 often sets up a mean reversion move, which may then yield a trend-following trading opportunity within the Remek! Momentum system. Data supplied by RM Pro.
RRS (Remek! Relative Strength): Remek! Relative Strength accurately identifies assets/instruments that outperform (or underperform if the value is less than 100) the market on an annual basis. The value of 100 equals the S&P500.
USD (Remek! Converter): 1ATR equals this many USD on the daily timeframe. An objective measure of risk.
2. Identify instruments with increased volatility for further analysis
In Remek! Market Scanner Pro, instruments with large moves are highlighted. By clicking on the RRR column these can easily be sorted (Figure 11), and selected for further analysis (Figure 12). Note Remek! Market Scanner Pro’s two columns below (Figure 13) that make identifying setups and triggers as efficient as possible.
Signals in Remek! Market Scanner Pro match the signals on the chart
After identifying instruments of interest with RRR, we can further zoom in by looking at Setups and Signals. (By clicking on the column headings, instrument lists can easily be sorted.)
Also note the HZ (hotzone) column helps identify the first pullback after the RRR crossover, a potential significant trading opportunity.
Remek! Converter (marked as “USD” in the right-most column) measures volatility-adjusted risk across instruments.
By clicking on an instrument row, you can also quickly switch all your charts to the instrument of interest if NT8’s colour connectors have been set up.
Signals in Remek! Market Scanner Pro and signals on the chart are in sync, since they are calculated by the same algorithm. This allows us to monitor many markets easily, and only switch to the desired market when there’s an event demanding our attention.
As further convenience, it is also possible to attach a sound signal or an email alert to signals, so we’re always kept up to date.
3. Examining instrument of interest in its own workspace for finetuned trade planning and execution
The next step is opening the instrument of interest in its own full-screen workspace for further analysis. In this particular example on the PL, we can make the following observations:
The weekly chart shows a volatility contraction, with a likely breakout in the foreseeable future.
The daily chart shows yesterday’s large move, which may lead to a pullback within a few candles.
The intraday chart provides further insight for forensic analysis. Depending on your timeframe, you may plan a trade on the intraday or on the daily timeframe by being on the lookout for pullbacks, leading to further extensions to the upside.
Note: without the RRR Market Analyzer in the Market Scanner Pro, you may be unaware of this volatility expansion on the PL, and thus may be unaware of any potential setups developing on this market.