Day Ranger is the tool that exposes the markets that give you a better chance to profit.
Day Ranger allows you to easily calculate the average true range of what’s on your chart. It gives you the trend of that instrument, allowing you to track where in the trend you are. Day Ranger also helps you compare markets to see where the best opportunities may be. You know the average true range instantly. This is a tedious, time consuming process without Day Ranger.
In addition, you will see the predicted High Low levels for today. These are based on one of the used ranges. It can be based on Yesterday's range, 3-day range, 5-day range, or any other custom range. The checkmark will appear next to the range that was used for prediction.
Markets tend to move a certain amount during a 24-hour period. The Day Ranger gives you a display of the different day ranges – current day range, yesterday’s range, the five day range, the 10 day range and the 30 day average range. If you know you’re near the average high of your trend, you’ll trade accordingly.
Day Ranger allows you to be more accurate and skillful in your trading.
- See instantly which markets are performing within their own normal ranges.
- Get visual range information instantly – no time consuming research or calculations.
- Potential High/Low for today. The indicator can show you the potential High/Low levels, based on one of selected ranges.
- Enables you to pick and choose which markets to trade with a higher degree of accuracy.
- Set different daily periods or exclude some. For example, you may be interested only in two ranges: say, 7 and 18 days.
- Change font, font size, color and place Day Ranger anywhere on your charts.
How to use
Use these ranges to figure out which markets have been exhausted – they have already moved their normal amount for the day and therefore probably won’t extend beyond that.
See instantly which markets still have plenty room to run compared to their average range for that time period, which means there could still be room for that market to make a profitable move.
By choosing the markets that haven’t moved very much yet compared to the typical daily range, you give yourself a better chance of catching the move, or the big move, of the day.
Compare ranges for different markets and use the Day Ranger as a way to figure out which markets to trade for the session.