TAS Market Profile VEGA Highlight Long or Short Bias Trades:
TAS Market Profile VEGA is normally used to identify both long and short bias trades. While this is perfect for traders who do not have a positional bias, other traders who focus on long or short entries have too many signals for their trading. They either have a long directional bias and do not want to trade short in the market, or only want to trade short. With TAS Market Profile VEGA we can change the settings to only show the directional bias that we want to trade.
TAS VEGA indicator long short bias settings:
How does TAS VEGA indicator work?
TAS Market Profile VEGA uses the levels outlined by TAS Boxes to determine long and short bias in the market. It changed the color coding of the bars/candlesticks to reflect this change. With VEGA indicator, Green bars now represent long bias in the market while Red bars indicate short bias in the market. This can simplify how you select the trades that you were making by adding an additional signal to your trades.
VEGA Green signal:
The market has broken above the High value area outlined by TAS Boxes. Once the market closes above this area, the bar will be locked green.
This happens when the TAS Market Profile VEGA indicator closes above the high value area. You can alter this setting by putting “short trades true” to zero.
TAS Market Profile VEGA Red signal:
Short directional bias in trades. The market broke and closed below a Low value area within TAS Boxes. Therefore we aim to only trade short when VEGA indicator is red.
Your position bias when trading with TAS Market Profile VEGA:
Not all traders have a position bias in the market, but when the market is trending in a direction, it can be useful. The idea is to trade with the strength of the market. You do not want to be fighting up stream while trading. As individual traders, we want to follow where the market is moving to capture a few points in the market. This means buying during moves that are on a bigger scale than ourselves, so we want to always be mindful of the direction of the market.
This may mean that we need to have a directional bias towards trades for one day, or even a full month at a time. This way we can guarantee that we are not trying to fight against the current in the market. There will always be opportunities for both bears and bulls in any market at any time, but the crowd mentality of the market is a key aspect to monitor.
Want more on TAS VEGA? Check out the detailed video Here: