MIDAS indicator - page 3
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Can someone post here the MIDAS articles(or some good links/resources)by Dr.Paul Levine!?Please help me with this info.
mladen already answered but another link was already posted in post#7.
Akif,
Hi Akif,
I hv read the midas document and still got no idea how to trade using VWAP.
can you pls tell me the rules to trade, Long and Short?
what time frame you are using?
Thanks
yampipok yampip
first of all MIDAS was not designed for Forex. We are just trying out here.
After that warning we can summarize it like this.
In the heart of the MIDAS system lies the VWAP.
In MIDAS you can use VWAP as the dynamic S/R line. Try to start a VWAP from a significant high/low swing and the price will probably respect that line.
So as giving a long/short advise is not easy because this is not a trading system. But just to make it complete lets say after a significant swing low price begin the up movement. It will eventually come down. And with a high probability it will retrace back to VWAP line.
-When it touches the VWAP line look for candlestick reversal patterns for confirmation. If it looks like price is bouncing up again go long. So when are you going to exit? Thats another story.
-If the retrace doesnt come back to VWAP start another VWAP from that point on. Dr. Levin says you can have up to 5 VWAP in huge trending markets. Fifth VWAP line will be easiest to break.You have to look for reversals at every line.
Thats basically like this. At least this is what I understood.
Akif,
ok yampip
first of all MIDAS was not designed for Forex. We are just trying out here.
After that warning we can summarize it like this.
In the heart of the MIDAS system lies the VWAP.
In MIDAS you can use VWAP as the dynamic S/R line. Try to start a VWAP from a significant high/low swing and the price will probably respect that line.
So as giving a long/short advise is not easy because this is not a trading system. But just to make it complete lets say after a significant swing low price begin the up movement. It will eventually come down. And with a high probability it will retrace back to VWAP line.
-When it touches the VWAP line look for candlestick reversal patterns for confirmation. If it looks like price is bouncing up again go long. So when are you going to exit? Thats another story.
-If the retrace doesnt come back to VWAP start another VWAP from that point on. Dr. Levin says you can have up to 5 VWAP in huge trending markets. Fifth VWAP line will be easiest to break.You have to look for reversals at every line.
Thats basically like this. At least this is what I understood.
Akif,Hi Akif,
Thank you for yr explanation.I understand now.
Cheers
yampip
...
akif, I missed the link you are pointing to, hence the post. It seems that I need to by glasses
regards
mladen
mladen already answered but another link was already posted in post#7. Akif,
:)
It seems that I need to by glasses
no problem mladen. I think it is normal to need glasses when you are a "senior" member:)
Btw as i m using glasses since age 15....
Akif,
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)
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.I could not get the same indicator like the one you pictured in your chart.Can you share the indicator parameters?Also since OBV is not normalised, is it possible to add two moving averages to OBV indicator?Thanks in advance.
ok yampip
first of all MIDAS was not designed for Forex. We are just trying out here.
After that warning we can summarize it like this.
In the heart of the MIDAS system lies the VWAP.
In MIDAS you can use VWAP as the dynamic S/R line. Try to start a VWAP from a significant high/low swing and the price will probably respect that line.
So as giving a long/short advise is not easy because this is not a trading system. But just to make it complete lets say after a significant swing low price begin the up movement. It will eventually come down. And with a high probability it will retrace back to VWAP line.
-When it touches the VWAP line look for candlestick reversal patterns for confirmation. If it looks like price is bouncing up again go long. So when are you going to exit? Thats another story.
-If the retrace doesnt come back to VWAP start another VWAP from that point on. Dr. Levin says you can have up to 5 VWAP in huge trending markets. Fifth VWAP line will be easiest to break.You have to look for reversals at every line.
Thats basically like this. At least this is what I understood.
Akif,Akif,
By the way,how you want to restart another VWAP from a point it does not retrace?Do i hv to delete existing indicator and reload it again?
Thank you.
yampip
Akif,
By the way,how you want to restart another VWAP from a point it does not retrace?Do i hv to delete existing indicator and reload it again?
yampipYampip you can put same indicator several times on one chart. Try adding another MIDAS indicator starting from a different time.
I am attaching an example below.
I have started 3 MIDAS indicators.
First one is from 2009.7.13 8:45
Second one is from 2009.7.14 16:45
Thir one is from 2009.7.15 00:45
I also activated topfinder on third one as it was ascending deeply. I will attach the zoom-in of the third one and also the parameter window.
In topfinder You try to manually put the topfinder line "kissing" the graph. You give the latest bars more importance. But not %100
So the value that I find for this specific example is 220 bars of volume. It doesnt mean every time it will be like this. You have to manually fine tune and find it. When the topfinder line stops it is the "summit" of that rally.( in theory of course:))
Akif,
I could not get the same indicator like the one you pictured in your chart.Can you share the indicator parameters?Also since OBV is not normalised, is it possible to add two moving averages to OBV indicator?Thanks in advance.
Hi biddick,
There shouldnt be any problems. The parameters are at their default. Check the next post and look if you can get the same lines or not. For the OBV I m not sure of its use right now. I need to re-check the document.
Akif,
.............