TAS VEGA Indicator for scaling out of Multiple lot positions:
TAS VEGA indicator can be used as a multiple lot trading indicator. We trade with multiple lot positions because it allows us to have more freedom in our exit strategies. With these multi lot positions on the market, we can slowly scale out of a position, locking in profit. In addition, TAS VEGA can act as a momentum indicator displaying when the market is losing momentum. It displays the momentum shift in the market by highlighting when there is a return to the value area.
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Red, Green, Grey, and Orange bars:
The key concept behind TAS VEGA is that it changes the color coding of your chart to indicate directional bias in the market. With this directional bias, you are able to quickly view charts, and make trade decisions. All of TAS VEGA’s information is based off of TAS Boxes indicator (for the Value areas in the market).
TAS VEGA Red Bars:
The red bars are formed when TAS VEGA detects that the market has closed outside of the Market Profile value area. Once the market has moved below the value area and closed the bar will be locked in red. This indicates a short directional bias in the market for TAS traders.
TAS VEGA Green Bars:
Green bars are the opposite of red bars. They form when the market breaks and closes above the value area. Once the market has closed above the value area, the bar will be locked in as green. This will indicate a long directional bias for TAS traders.
Grey bars form when the market is within the value area. These indicate to either continue to hold positions, or wait for a market to break out of the current value area in the market.
TAS VEGA Orange Bars:
These form when the market opens outside of a value area, and closes back within it. This can be a market pullback from an aggressive move, or due to the market just coming back within the value area. If you are taking multiple lot trades, and a new box is formed, you can consider exiting part of your position on these bars.
If you want to find out more about TAS Tools, you can see more detailed videos on the TAS Market Profile Site here: