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The TD Range Expansion Index was created by Tom DeMark and described in, "DeMark on Day Trading Options" written by T.R. DeMark and T.R. Demark, Jr. (McGraw Hill, 1999).
The TD REI is a market-timing oscillator that attempts to overcome problems with exponentially calculated oscillators, such as the MACD, by being arithmetically calculated.
Interpretation
The TD REI typically produces values of -100 to +100; Readings of +45 or higher indicate overbought conditions while readings -45 or lower indicate oversold conditions. DeMark advises against trading in extreme overbought or oversold conditions indicated by six or more bars above or below the 45 thresholds.
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