xBrat BIAS DEPTH HeatmapThis Trading Indicator is the "Go - No Go Gauge" for any trading signals strategy. A Sub-Chart that looks up 6 time frames and gives you real time BIAS. Bullish, Neutral or Bearish on each level. Making decisions, acting on trading signals easier! Only identifying those highest probability trades, no matter what signals trading indicator you are using. Ideal for Forex Trading, Futures Trading, Crypto Trading and Stocks Trading
This BIAS Depth Heatmap includes:
6 Levels of BIAS Depth
Scalping Setting
Day Trading Setting
Swing Trading Setting
And by only concentrating on trading the highest probability trades of any trading strategy, we can block out all the other noise and concentrate on a simple set of rules!
This is why our Founder, Paul Bratby, decided to help filter out all the noise and allow traders to see what's going off on higher timeframes "in depth" to help make those important trade entry decisions. This more global view of the BIAS DEPTH is designed to help traders make decisions faster!
Biaschange
RexDog Average with ATRBam-- look what Rex did. A RexDog Average with ATR bands-- he's going insane. Simple but powerful.
This indicator includes the RexDog average but provides you with the ability to plot (and customize) both above and below ATR calculated bands.
With this indicator you can display all 3 or any combination of the bands: the RexDog Avg, Adding ATR Upper or the Subtracting ATR Below.
To remove a plot or customize color and line size go to the style options.
Before we get detailed with this version you can customize the default average factor of the RexDog Avg (default is 6). More tips on this below.
How This Works
Just as with the RexDog Average we take the 6 ATR data points (200, 100, 50, 24, 9, 5). We then create an average by dividing by 6. But wait there's more...
With this indicator you can customize independently the above and below bands via a float value for precision. 6 is the default (you can customize by increments at 0.25 or input value you like 1-20).
Now this works opposite how you might think but you'll get it once you start changing the numbers. For instance, editing the above band lowering the ATR factor will raise the band.
RexDog Avg Factor
With this release you are able to change the default average factor (6) to anything you want. You'll find though going too high or low from the default won't get the best results. The default increment change is 0.1 but you can enter any float value you like between 1-20.
The Original RexDog Average Overview
Yes, simple—the RexDog Average is a bias moving average indicator. The purpose is to provide the overall momentum bias you should have when trading an instrument. It works across all markets and all timeframes.
Usage:
Price above the RexDog AVG = long momentum bias
Price below the RexDog AVG = short momentum bias
With the ATR addition most likely your usage will be similar to Bollinger Bands. While not the same as in deviations much of the same principles might apply, especially with customization.
*Note: we have banned the word “trend” in the RexDog Trading Method.
Additional Usage Advice:
If price rips through the average your momentum bias should probably change. 80% of the time when price moves through the RexDog Average it will come back and test the area around average within 1-2 bars. 20% of the time it does not. The momentum is so strong in that direction so look for a 50-70% tests of the bar that impulse through the RexDog Average.
If you are using the RexDog Trading Method by default if the price is above the average and you are short you are in a fade trade. The momentum trade would be long. Of course reverse if price is below.
On multiple time frames. Of course, one timeframe can be long bias and a lower timeframe can be short bias. Which one do you use? Both—if your in a short trade using lower timeframe and with the bias of the average your in a momentum trade—but on the higher timeframe your aware you are essential fading the overall momentum.
Background:
Rex and I searched high and low for one simple thing. A moving average (or combination of some) that we could use to form our momentum bias that worked for all timeframes and all markets we trade.
We tried and tested them all. Even went down the path of ribbons and various other types of hybrid EMA /MA derivatives. Nothing had a high enough accuracy or mathematically was reliable that we could say with a high probability that it was on the right side of the momentum.
We almost stopped and landed on using the true and tested 200 MA—but we found through extensive tests that using the 200MA or EMA you’re often late to the party. Look you don’t need to be the first one in the trade but having a heads up sure helps.
To quote one of the best financial movies of the modern era—Margin Call:
“There are three ways to make a living in this business: be first, be smarter, or cheat… it sure is a hell of a lot easier to be first”. The RexDog Average used properly enables you to be first or damn near close.
Under the Hood:
This is so simple most reading this will discount it. You might even scoff and berate Rex for wasting your time. But you would be wrong. The RexDog Average has been tested across all markets—FOREX, Crypto, Equities, Futures (even tick charts), and even the Penguin population in Antarctica.
The RexDog Average is an average of 6 simple moving averages: 200, 100, 50, 24, 9, 5.
Yes, that’s it.
