!Dyna Range Indicator
Clearly identify the potential length of a move with the ST Dyna Range!
What is the Dyna Range Indicator?
The Dyna Range was developed with similar calculations as the Voodoo Lines but rather than utilizing all time historical price values, the Dyna Range will adapt to current values on your chart. Much like a simpler moving average differs from an exponential moving average, the Dyna Range is using current time frames and current trading data to develop and display potential turning points and length of price moves in the market. Coupled with the Ready Aim Fire tool, it makes for an easy entry and target set up for any day or swing trader. The indicator was developed to determine when a move in price appears to be proportionally complete and makes for a great identifier of the next target area for reversal when accompanied by other Simpler tools.
How do I read the Dyna Range Indicator?
The Dyna Range is showing you when price has found areas of support or resistance. The green and red dotted lines are spaced according to previous recent swings in price and will display every so many bars in order to give you a chance to play the swing to the opposite direction. There are 5 rows of dotted lines and each represents a different percentage chance that price will make it there before bouncing. Intuitively enough, the farther down, the less likely the price will bounce from that level since it will be passing through several on the way down.
When you see 5 red dotted lines appearing on the chart, these are areas where price will more often than not begin to roll over after a short period of stalling for a full momentum shift as it passes through each row. You can then take advantage of this price direction change with a target set for the next green dotted line which is letting you know price has been here and will likely show signs of a reversal before long. Green dotted lines signify areas where price has traded long enough to develop strength and will tend to gain momentum towards the next area of strength.
How can I trade with the Dyna Range Indicator?
Which platforms is the Dyna Range Indicator available for?
Currently the indicator is offered for Tradestation and Thinkorswim. You can find out more and purchase the indicator via the link below.
ST Dyna Range Indicator: https://www.simplertrading.com/product/dyna-range/