REDline Manual
Learn how to use REDline
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Components Explained - REDline
Components Explained - Choppiness Line
REDline is a custom built indicator used by DROID to both indentify high-probability trade entires and to use as a general market trade filter. The indicator monitors market volatility, and compares this to recent market price movements, in order to evaluate the strength of a prevailing trend.
REDline is a trend identifier. It is NOT a reversal indicator. Zero line crosses are NOT indications of a 'bottom'. REDLine is best used as an additional trade CONFIRMATION within your existing trade systems. No indicator should be solely relied upon for trade entries and exerts.
What The REDline is not
Disclaimer An important note. REDline is not a crystal ball. No indicator can provide trade signals without error. According to extensive backtesting this indicator can provide consistent, high-probability entires however REDline does not constitute a full trading system on its own. All trading systems should include multiple layers of trade confluence and have an active risk management profile in operation at all times. (edited)
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