The new features and miscellaneous enhancements outlined below were introduced in the 3.8 Version.

Product Enhancements for version 3.8:
Release Date: July 30, 1999

• Tick Velocity Indicator (tour screenshot)
• Chart Pop Up Menu Improved
• Default Chart As Raw Tick Chart
• Order Confirmation Window Improved
• Four New Moving Average Types (tour screenshot)
• True Range Smoothing
• True Range Added to Scans
• Multiple Scales Option
• Volatility Indicator (tour screenshot)
• RSI Indicator Improved
• Tom DeMark Range Expansion Index (TD REI) (tour screenshot)
• Chart Toolbar Improvement
• New Toolbars
• New in 3.7

1. Tick Velocity Indicator
   A new technical indicator has been added for use in the scan language. The name of the indicator is Tick Velocity; the scan token is TV. This indicator calculates the current velocity of trading for an instrument in ticks per minute. The setup dialog for the TV indicator allows the user to specify a short term period and/or a long term period in minutes. Periods less than a minute can be expressed with fractions or decimal numbers ,e.g. enter 1 / 4 or .25 to specify a period of 15 seconds. Investor/RT calculates the number of trades that have occurred in either the short term or long term period and returns the value in ticks per second. For equities, the user can request that the result be returned in tick volume per minute. The setup dialog has three choices for the returned value: (1) short term velocity, (2) long term velocity, or (3) short/long term ratio. A ratio above 1.0 indicates the tick velocity is higher recently vs. longer term. For example, if short term period is 15 seconds and long term is 5 minutes, and the ratio calculation is selected, then the scan request TV > 2 would identify instruments whose trading velocity during the last 15 seconds was more than twice the rate it has been over the preceding 5 minutes. The default intra-day periodicity could be any number of minutes you like. This is the way Investor/RT provides for minute intervals that do not appear specifically in the Periodicity menu.
   
2. Chart Pop Up Menu Improved
   The chart pop up menu has been improved to show the current periodicity and chart type with check marks when making a selection in the menu. In addition, a new choice "Intraday" has been added to the list of periodicities. The Intraday choice changes the chart periodicity to the default intra-day periodicity which could be tick or any user specified minute interval. To set the default intra-day periodicity, go to Setup: Preferences: Period Settings, choose Intraday from the menu there and specify the minute interval or zero for tick by tick. Once set, use the chart pop up menu to switch that periodicity anytime you want.
   
3. Default Chart As Raw Tick
   Prior to Version 3.8, a raw tick chart could not be made the default chart in Setup: Preferences: Charting Advanced. This restriction has been removed. When a raw tick chart is the default chart, double-clicking on a symbol in the quote page will open a raw tick chart.
   
4. Order Confirmation Window Improved
   Prior to Version 3.8, placing unconfirmed trades (e.g. market orders) and then deleting the underlying instruments before either confirming or canceling those trades would cause Investor/RT to fail when opening the Confirmation window. This problem has been eliminated.
   
5. Four New Moving Average Types
   The moving average technical indicator in Investor/RT now supports nine distinct moving average types. The four new moving average types are described in detail in the June 1999 issue of Stocks and Commodities Magazine, p. 18. The new types are:
   
   Adaptive Moving Average - This moving average moves slowly when prices are moving sideways and moves swiftly when prices move swiftly.
   
   Triangular Moving Average - The triangular moving average derives its name from the way the weighting factors are applied to the un smoothed data. For example, for a 7 period moving average, the weighting factors are 1, 2, 3, 4, 3, 2, 1.
   
   Endpoint Moving Average - The endpoint moving average uses a least squares (linear regression) fit to derive each point on the moving average line based on the preceding period.
   
   Sine-Weighted Average - The sine-weighted moving average is similar in concept to the triangle moving average, but the weighting factors are based on a sine calculation instead.
   
   These new moving averages may be used as overlay indicators showing the moving average of some price type for an instrument, or they may be used as smoothing options in conjunction with other technical indicators. For example, the Adaptive moving average could be used to smooth the CCI, RSI, or MACD indicator.
   
6. True Range Smoothing
   The True Range technical indicator has been enhanced to add an optional smoothing moving average to the resulting True Range line. Specify a period of 0 or 1 if you want to see the raw un smoothed true range line. If you want to see both the smoothed and un smoothed line, add the indicator twice, once with and once without smoothing.
   
7. True Range Added to Scans
   True Range added to scans The scan language now supports TR, the True Range indicator. As noted above, either the smoothed or un smoothed True Range can be tested in a scan.
   
8. Multiple Scales Option
   Version 3.7 Revision 2 introduced the "multiple scales" feature. See the help topic New in Investor/RT 3.7 for more information about this major new feature. In version 3.8, the multiple scales feature has been made an option. When the option is on, Investor/RT will create up to 10 distinct scales for instruments and their associated overlay indicators, or standalone indicators. When the option is off for a particular chart window pane, all instruments and indicators in the pane will be scaled to a common scale that spans the range of values of the component elements in the pane. The ability to turn off multiple scales is important when charting mutliple futures contracts of the same type (different months) in the same pane. Some combinations of indicators, e.g. ADX, ADX, D+/D- are typically used together in the same pane and must be drawn to the same scale to see trading signals.
   
   The multiple scales options is ON by default when creating a new chart. To turn off multiple scaling, right click in the vertical scale area (command click on Macintosh) and uncheck the Multiple scales checkbox. When chart objects are saved, the scaling preference is saved with the chart.
   
9. Volatility Indicator
   The volatility indicator is based on the same calculation used by Investor/RT in the options analysis feature of the program. The volatility is calculated historically for each bar. At present, the volatility can be graphed daily, weekly, or monthly. The volatility is a measure of the expected percentage change in price over a one year period for the underlying instrument. The expectation is based on one standard deviation (68% probability). Prior to version 3.8, the volatility could be calculated and displayed as a quote page column where the value represents the present volatility. Now the volatility may be viewed graphically to see how it has changed over time for an instrument.
   
10. RSI Indicator Enhancement
    The RSI technical indicator has been enhanced to provide the option of calculating the RSI according to the Morris Modified RSI algorithm as described in the 1998 bonus issue of Stocks and Commodities Magazine (p. 56). The Morris calculation differs slightly from the classic Welles Wilder calculation and typically generates more buy/sell signals as the RSI crosses the 70 and 30 threshold values.
    
11. Tom DeMark Range Expansion Indicator (TD REI)
    The DeMark Range Expansion Index is a market timing oscillator described in DeMark on Day Trading Options, by T.R. DeMark and T.R. Demark, Jr., McGraw Hill 1999. The oscillator is arithmetically calculated and is designed to overcome problems with exponentially calculated oscillators, like MACD. The TD REI oscillator typically produces values of -100 to +100 with 45 or higher indicating overbought conditions and -45 or lower indicating oversold. DeMark advises against trading in expreme overbough or oversold conditions indicated by six or more bars above or below the 45 thresholds. For more information on using TD REI the user is referred to the DeMark text.
    
12. Chart Toolbar Improvement
    Now that Investor/RT supports multiple scales, it will be more common that chart windows contain multiple instruments. When more than one instrument is present in the chart window, Investor/RT will operate on the selected instrument when certain instrument specific functions are requested using the chart toolbar. For example, clicking the green trash can will remove the selected instrument from the chart window. Similar, clicking the V/E button (view/edit) will bring up the historical data (or time and sales) for the selected instrument. The trading notes button acts similarly. To select an instrument in the chart window, simply click the mouse while pointing at the line, bar, or any candle stick for the desired instrument. Then click the desired function on the charting toolbar.
    
13. New Toolbars
    Five new toolbars have been added to Investor/RT. Toolbars are now available when working with Point and Figure Charts, Market Profiles, Volume Profiles, Day Bar and Raw Tick Charts. Like other object specific toolbars, the new ones show and hide automatically when a window of the appropriate type opens or is activated by clicking on it. The new toolbars provide access to common features like accessing preferences, downloading data, instrument setup, trading notes, and saving the window.