Range Expansion Index:
Range Expansion Index (REI) is an oscillator that measures price changing rate and signals about overbought/oversold areas, in case a price shows weakness or strength. It was developed by Thomas DeMark and described in his book "The New Science of Technical Analysis".
The indicator values change from -100 up to +100. REI is an enhanced oscillator, as it stays neutral during a flat and shows trends only when considerable top or bottom have been reached.
Author: Nikolay Kositsin