Remek! Momentum PRO STR BT Technical Reference: tHE CHARTS
The Workspace
Remek! Momentum PRO STR BT offers a fully customizable trading environment for technically motivated directional traders. Charts can be set up to trade any bar type and any timeframe. We included five timeframes (5min, 15min, 60min, 240min, daily) that can handle timeframes most frequently used by traders, but traders are free to modify these charts, including the timeframe, bar type and visual characteristics, as they wish.
Notes
In PRO STR BT, the Remek! Momentum algorithmic signal launches its own user-defined built-in strategy.
PRO STR BT can be backtested automatically, therefore, it is not only an excellent trading tool, but an excellent (and lightning-fast) research tool as well.
Remek! Market Scanner Pro str bt
Remek! Market Scanner PRO STR BT allows us to monitor a list of instruments with ease. Its five columns is all we need to identify opportunities across any number of many markets in an instant. (Reminder: we mostly trade pullback trades. Remek! Market Scanner PRO STR BT was built to identify pullback trades.)
The description of the columns’ default settings. Settings are fully customizable to accomodate the requirements of the trader:
Instrument: the instrument
Days: days left until rollover. Highlighted in yellow if less than 3 to warn of upcoming contract expiry.
RRR: the Remek! Relative Return indicator on a daily timeframe. This indicator identifies unusual moves on the market. (We trade markets that move.) Highlighted in green if larger than 2, and in red if less than -2.
Setup: the setup on the 240min timeframe as identified by our Remek! Momentum Pro algorithm. The setup indicates that most, but not all, of the conditions necessary for a trade are present. The missing condition is “the re-emergence of momentum”, in the form of price movement. (LONG indicates the presence of a long setup, SHORT indicates the presence of a short setup. You can easily jump the the chart to check out the opportunity by clicking on the instrument’s name.)
Signal: otherwise known as the trigger, on a 240min timeframe. Indicates the arrival of the last condition, “the re-emergence of momentum”. (LONG indicates the presence of a long signal, SHORT indicates the presence of a short signal. You can easily jump the the chart to check out the opportunity by clicking on the instrument’s name.)
KScore: the position of price within the Keltner Channel. Larger than 1 indicates price is outside the upper Keltner, -1 indicates price is outside the lower Keltner. 0 indicates the Keltner midband. The position of price within the Keltner Channel is crucial information for us within our trading methodology.
Note: columns, including timeframes are fully customizable to suit your trading style.
The Charts: Daily
Blue line: Remek! Keltner Channel (2.5,20)
Shaded area: Remek! Keltner Channel (2.25,20)
Blue-yellow-red dotted line: Remek! ADXVMA (12)
Blue-brown lines: Remek! MACD (SMA, 5,20,8)
Black-red vertical columns: Remek! Relative Return (RRR) (1,20). This is the same as the column RRR in Remek! Market Scanner Pro.
Red and blue arrows: Remek! Momentum Pro signals
The Charts: 240min
The only difference between the daily and the 240min, as we use it, is
- the absence of RRR
- the use of OHLC bars
- the painting of bars outside the Keltner
The Charts: 60min
Vertical dotted lines: session boundaries
green-firebrick-red lines: NT8’s OHLC indicator
The Charts: 15min
blue-pink shaded areas: (fully customizable) HTF pullback zones, which can be displayed optionally on any chart that has the Remek! Momentum PRO STR indicator or strategy on. Displaying HTF pullback zones (aka consolidation areas) can be useful for identifying the best pullback signals on our trading timeframe.
The Charts: 5min
dark blue-light blue buttons: The Remek! Momentum PRO STR BT strategy
position on chart with entry, stop loss and targets as defined by the (fully customizable) RemekATM
RRR indicator with a (20,20) setting
Green, red dotted lines: plot executions