Will a cheap scan tool show the transmission temperature and to open the valves to circulate coolant when doing a drain and fill of the coolant?
There aren't any really cheap scan tools that will do bidirectional testing. (Of course that is dependent on the definition of "cheap".)
See the FAQ for general scan tool recommendations.
Will a cheap scan tool show the transmission temperature
Depends on the tool and depends on the car which you said nothing about. It may not even be possible.
open the valves to circulate coolant
which valves? Thermostats are usually mechanical
when doing a drain and fill of the coolant?
all you have to do is slip the hoses off
I haven't work on this yet but I think he is talking about those new electronic thermostats. I think there nicknamed FRED. They are fully computerized work in concert with special fans and have some special heater element inside them. I pretty sure newer bmws have them
@Nissanrob88 who knows