Range Rush Reversal + Dashboard

Description

The Range Rush Reversal is an indicator that assists traders utilize ranges as an easy-to-use trading system for analyzing intraday price action. The Opening Range and Average Daily Range can be used in tandem to identify breakout and reversal opportunities. It comes with Alert triggers to set automatic alerts for entries and take profit levels.

How to install the indicator:

Simply visit the link, then click “Add to favorite indicators” and then you can add it to your chart from the Indicators tab.

How to use the indicator:

The Opening Range is the area between the high and low of the first 30 minutes or hour of the trading day. Once the Opening Range is established, the following scenarios are to be considered:

• If the price breaks above the range, the indicator would signal a potential long position.
• If the price breaks below the range, the indicator would signal a potential short position.
• If the price doesn’t break the high nor low, this can signal intraday consolidation.

ADR Zones are calculated as the difference between daily highs and lows averaged over some period, typically 5 or 10 days. ADR Zones can be used for entries and exits, whether price breaks through them or reverses after testing them.

Use cases:

• A break above or below both the ORB and ADR very early in a trading day signifies a “high momentum breakout” in which asset price moves beyond average trading magnitudes.
• A test of ADR Zones can signal reversal points intraday.

Let this tool bring you higher returns of confidence, skill, and profits!