How to use TAS Market Profile Indicator Boxes
We’ve Covered the basic Breakout Strategy while using the TAS Market Profile indicator in our last video. In that video, we used the TAS Boxes indicator to enter trades when they broke the value area. In this video, we use a mix of technical analysis combined with TAS Boxes indicator for entering trades.
You can use TAS Market Profile indicator: Boxes for levels of support and resistance in the market. It outlines the upper and lower boundaries of S&R using Market Profile. The upper High Value Area defines the upper level of S&R Trading. The Low Value Area defines the lower band of S&R.
TAS Market Profile Indicator Technical Break-Out Method:
In this trading method, we are waiting for a double confirmation of the break of S&R. It is important to realize that this method will result in fewer trades being made. In that case, it may not be suitable for all traders. On the other hand it is adding more filters to show strength in the market before we take a position. This provides us with often better trades. In particular this method works well on lower time frames. This is due to the double confirmations often becoming too high of risk on the higher time frames.
TAS Boxes Levels to know:
The TAS Market Profile Indicator: Boxes uses Market Profile information, combined with a proprietary system to determine levels of support and resistance. All of the information Boxes gives you is derived from Volume at Price. These are areas where trades were made in the market, and the strength that those areas represent.
Red High Value Area:
Upper band of resistance and support in the market from the previous trading period.
Green Low Value Area:
Lower band of resistance and support in the market from the previous trading period.
Blue Point of Control Line:
This is the area where the most trades happened in the previous trading period. It outlines where the trading volume is congested withing the Box.
Find out more about TAS Boxes below:
Bruce Banks