An equilibrium which seems to be static (no movement) but both forward and reverse reactions are going on at the same rate are called as dynamic (movement) equilibrium. For example if we keep ice on water at zero degree the following equilibrium will exist.
Water(s) <--> Water(l)
In this stage an observer will see that both the quantity of ice and water will remain constant with out any change. But the ice is melting to give water in the same rate as that of water is converted to ice. So both the reaction are going on at zero degree and we are not observing it in outside. So this type of equilibrium is called as dynamic equilibrium