Lubegard has two uses.
1) Use it as a converter to convert a standard ATF into an ATF that'll work for a variety of applications, such as ATF+4, Mercon V, Honda ATF Z-1, Toyota T-IV, etc.
For this purpose, you use the Lubegard "Black" HFM additive.
2) If you are already using the correct ATF for the application, you add Lubegard "Red," which is a protectant.