The strategy that makes up this trade management tool includes:
1. Average calculations with auto lookbacks - Each candle then is identified as being above or below average with Dots above or below each candle.
2. Distribution or Accumulation candles - Identifies if the candle has higher or lower compared to previous candle
a. If Higher and is a Down candle it is a distribution candle and is coloured Red.
b. If Higher and is an Up candles it is an accumulation candle and is coloured Green.
3. Adjustable BIAS cloud with four settings for Day Trading and Swing Trading. Red is BIAS with Price action and Green is a BIAS with Price Action.
Some of the simple rules to follow when using "The Manager" to help manage your trades Long or Short. (More is covered in our tutorial video)
1. When Short Trading and you get a Green Accumulation Candle with a Cyan Dot Above candle (Higher than Average ) printed. This is a sign of a potential reversal against your short trade and an aggressive profit taking exit is necessary.
2. When Long Trading and you get a Red Distribution Candle with a Cyan Dot Above candle (Higher than Average ) printed. This is a sign of a potential reversal against your long trade and an aggressive profit taking exit is necessary.
3. Pullbacks against the direction of your trade with Blue Dots Below Candles (Lower than average ) show low momentum pullbacks and a sign to stay in your trade or revert to BIAS Cloud rules.
4. BIAS Cloud - When Green Changes to Red, this is your conservative exit for Long Trades. - When Red changes to Green, this is your conservative exit for short trade.
5. BIAS Cloud - When day trading and your position has a parabolic move - change settings to day trading aggressive
6. BIAS Cloud - When Swing trading and your position has a parabolic move - change settings to day trading conservative or moderate depending on how much room you want to give for a pullback against the direction of your swing trade.
Remember when day trading or swing trading, there is usually a data or news catalyst that reverses the direction of an instrument and potentially a trade that you are in. "The Manager" soon spots those with either accumulation or distribution candles combining with higher than average . And usually with a distinct candle stick formation rejecting highs or lows. The ability for you to visually see this on your chart with our indicator gives you chance to maximise your profits by understanding the behaviour represented by the coloured candles and the dots above or below the candles. The BIAS cloud allows for a more conservative approach to this as discussed above
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Watch videos and learn more about this indicator on our website here https://globaltradingsoftware.com/produc...
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