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This powerful analysis tool gives the user an immediate indication at the day's Open whether the day will be an "Up" day, a "Down" day, or a "Sideways" day.
RangeFinderTM draws a set of three horizontal lines on an intraday chart.These lines consist of a green High Support line, a red Low Resistance line, and a white Daily Midline. If the price opens above the High Support line, we can assume that today will be an upward-trending day and that the High Support line will serve as a support level for prices during the day. Conversely, if the price opens below the Low Resistance line, we can assume that today will be an downward-trending day and that the Low Resistance line will serve as price resistance. If the price opens between the two lines, the lines will define the expected trading range for the day.
RangeFinderTM draws a set of three horizontal lines on an intraday chart. These lines consist of a green High Support line, a red Low Resistance line, and a white Daily Midline. If the price opens above the High Support line, we can assume that today will be an upward-trending day and that the High Support line will serve as a support level for prices during the day. Conversely, if the price opens below the Low Resistance line, we can assume that today will be an downward-trending day and that the Low Resistance line will serve as price resistance. If the price opens between the two lines, the lines will define the expected trading range for the day.
Available on:
TradeStation
Multicharts
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