The BIAS indicator automatically looks on a higher timeframe and measures 3 EMAs and their relationship to each other. This then gives a trader an indication of the following states on a higher timeframe:
- Bullish BIAS
- Neutral BIAS
- Bearish BIAS
The 3 EMA’s used are called, Leading, Main and Lagging EMAs. It is their relationship on a higher timeframe that gives us a BIAS to help us out in the current timeframe we are trading. This BIAS indicator is a subchart and keeps the rest of the chart clean for your main trading strategies. Also if the BIAS changes to Yellow whilst we are in a trade, this would be a good sign to tighten stops.
Please view the chart images on the left to help visualize how simple it is to use the BIAS indicator to confirm the bias of direction on higher time frames.
What do you get
The BIAS indicator For The MT4 Platform
The BIAS indicator For The TradingView Platform Trading Software – PaulBratby.com
Specification: BIAS Indicator For MT4