MIDAS indicator

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Hello to everyone.

After I read MIDAS articles by Dr. Paul Levine(RIP) a great search began for me for the MIDAS indicators. But I couldnt find any "valid" ones that can be used as it is told in the articles.

So I gave my shot at Dr. Paul Levine's article. I have to say it is one of the best written articles I have read. He explains everything in such a simple way so I coulnt hold myself and decided to program it in mql.

Because I learned so much from this site. I decided to give something back to it. So I decided to post this indicator here. I hope you find it useful.

Ok first of all a warning. This is my first indicator! So beware.. I just learned MQL language while trying to build this indicator. But i think i managed to pull it.

So here it is..

-MIDAS indicator with Support and Resistance lines...

-You can specify the exact start date.(not just last xxx bars)

-You can shift S/R lines with specified amount (Greed factor as it is told in articles)

-Topfinder algorithm.(I think this is the first one ever programmed for MT4)

Reference documents:

-Original article is on this post

- You can find TASC articles about MIDAS on this and this post.

Also I programmed the OBV indicator as it is told in articles but I am not quite sure about its usefullness after I see those VWAPs.

I know that I should have prepared screenshots showing every feature but I think you can try it for yourself..

As this is my first indicator please feel free to send me any comments, bugs, ideas..

Have a nice one.

Files:
midas_v1.mq4  6 kb
midasobv_v1.mq4  3 kb
midas.gif  29 kb
midas_shift_no_grid.gif  29 kb
 
xx3xxx:
good try

but maybe due to inactivity of the market -- it just give a very flat line

-- the bottom indicator look like zig-saw with the approximate shape on how did the chart move

---- maybe if you shift RIGHT of your indicator, you can create an Indicator that predict the next 2 hour movement in M5 chart, if the trend does continue, then it will look more impressive

Starting from the last yes thats true because it just adds the volume if it is a up bar and subtract the volume if it is down bar. Thats what is expected. I just wrote it to be complete with articles.

For MIDAS indicator you should not have a flat line if market is not flat. By the way this maroon line is actually VWAP(no surprise:)) So if you dont see a flat aqua line with Market Statistics indicator then there is something wrong going on there. Actually if you plot them on the same chart. They should overlap.(Aqua line from Market Statistics indicator and Maroon line from MIDAS both VWAP lines)

The interesting thing here can be shiftedVWAPs. Try to start VWAPs from a turning point ( as in the example screenshots) And enable shiftedVWAP and manually arrange the dotted line where you would take the profit(like price hitting the dotted shifted VWAP) Record that number and use it as a take profit target. See the second snapshot.Find the greed factor with the first VWAP by manually adjusting dotted line. Use it next time as a take profit target. By the way you can use minus values for shifted VWAPs to move them downside.

And lastly TOPFINDER/BOTTOMFINDER algorithm. This was quite experimental for even Dr. Levine. What it is doing is it tries to predict where the bull move/bear move will stop.When is the fuel of that trend will finish?

Think that you initiated a VWAP for a turning point.Lets say after a huge down move now an upward move has begun. And you are waiting for pullbacks to VWAP but it is not happening it began to climb steeper. When it is going to stop? Right there enable topfinder and manually arrange it to fit the price line. You will see topfinder line is steeper than VWAP. When the brown line is stopped, trend will stop. At least in theory. I will send a screenshot about this tonight.

Have a nice one.

Akif,

 

Hi Akift,

Thanks for the indicators. They look nice. Is it possible to add the Deviation levels for for the MIDAS indicator? I think it's better to use Deviation instead of the Greed level for TP. And would you please send a article about the MIDAS ind?

Thanks in advance

Eiman

 
eiman105:
Hi Akift,

Thanks for the indicators. They look nice. Is it possible to add the Deviation levels for for the MIDAS indicator? I think it's better to use Deviation instead of the Greed level for TP. And would you please send a article about the MIDAS ind?

Thanks in advance

Eiman

Hi eiman

Do you mean standart deviation when you are saying DEVIATION? If it is so you can check this Market Statistics indicator I posted today. In that you can find up to 3 standart deviations. It is the same VWAP.

I created this indicator to be complete representation of MIDAS article.

But thinking in your way, I think I need to further modify Market Statistics indicator to be able to show/disable volume histogram-PVP-VWAP lines also.

Have a nice one.

Akif,

 

good try

but maybe due to inactivity of the market -- it just give a very flat line

-- the bottom indicator look like zig-saw with the approximate shape on how did the chart move

(any INPUT parameter that we have to set -- any diagram to show us how to do it?)

---- maybe if you shift RIGHT of your indicator, you can create an Indicator that predict the next 2 hour movement in M5 chart, if the trend does continue, then it will look more impressive

 

I've seen your other thread and have read the thread you've redirected to. I must say that this is my first time reading something like it. haven't seen it before, and would like to thank you.

About the Deviation, yes Standard Deviation please. The reason I'm asking is that the "Market Stastics Indicator" takes too much time of the CPU. And also we might not be able to use the Jperl's approuch in FOREX because of the volume thing.

Thanks in advance

Eiman

 
eiman105:
I've seen your other thread and have read the thread you've redirected to. I must say that this is my first time reading something like it. haven't seen it before, and would like to thank you.

About the Deviation, yes Standard Deviation please. The reason I'm asking is that the "Market Stastics Indicator" takes too much time of the CPU. And also we might not be able to use the Jperl's approuch in FOREX because of the volume thing.

Thanks in advance

Eiman

Hi eiman

For MIDAS indicator article you can find all in one here.

You are right Market Statistics is kinda heavy on cpu. I m thinking of creating a pure VWAP indicator with SD bands. Maybe thats what we are looking for.

Yes Jperl's threads are not aimed for forex but I believe this approach can be used in Forex. But maybe we just find out when to start the histogram and when to stop. (Maybe Market open/close hours?) I dont know yet. I am still experimenting too.

And if you like Jperl's threads as I do then check walterw's threads aimed for forex only.(names should be like walters trades and chimps trend trades) They changed my view of forex. Be sure to check them.

I will look into pure VWAP.But I havent lost hope in Market Statistics yet.:)

Akif,

 

Your comments are increasingly annoying.

Do us a favor, and learn about trading before talking. Your charts look like a kids playday at the paint factory.

xx3xxx:
good try

but maybe due to inactivity of the market -- it just give a very flat line

-- the bottom indicator look like zig-saw with the approximate shape on how did the chart move

(any INPUT parameter that we have to set -- any diagram to show us how to do it?)

---- maybe if you shift RIGHT of your indicator, you can create an Indicator that predict the next 2 hour movement in M5 chart, if the trend does continue, then it will look more impressive
 

pure VWAP with SD bands

Ok I managed to create a pure VWAP with 3 SD bands which is very lightweight and has a very simple code. I will post it this evening.

I just noticed that VWAP calculation in MIDAS indicator which I posted is using cumulative volume from the start of the chart. This lightweight vwap will use cumulative volume from the start of the startDate. It doesnt make huge difference (shouldnt be) because they are proportional but you can check for yourself.

Akif,

 

I'm LOVING it!

akift:
Hi eiman

For MIDAS indicator article you can find all in one here.

You are right Market Statistics is kinda heavy on cpu. I m thinking of creating a pure VWAP indicator with SD bands. Maybe thats what we are looking for.

Yes Jperl's threads are not aimed for forex but I believe this approach can be used in Forex. But maybe we just find out when to start the histogram and when to stop. (Maybe Market open/close hours?) I dont know yet. I am still experimenting too.

And if you like Jperl's threads as I do then check walterw's threads aimed for forex only.(names should be like walters trades and chimps trend trades) They changed my view of forex. Be sure to check them.

I will look into pure VWAP.But I havent lost hope in Market Statistics yet.:)

Akif,

Hi Akif,

I'm just loving it. The article on MIDAS, Jperl's VWAP thread and Walterw's thread are just great. Thank you very much for introducing them. May I ask which one you are trading LIVE and on which pair?

Thanks again

Eiman

 

Tnx

akift:
Ok I managed to create a pure VWAP with 3 SD bands which is very lightweight and has a very simple code. I will post it this evening.

I just noticed that VWAP calculation in MIDAS indicator which I posted is using cumulative volume from the start of the chart. This lightweight vwap will use cumulative volume from the start of the startDate. It doesnt make huge difference (shouldnt be) because they are proportional but you can check for yourself.

Akif,

Can't wait to test it.

TNX.

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