MIDAS indicator - page 7
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Proof
Akif, here is a screen-print showing you the precise point where I started from. I have been trading for 13 years and will not make such an elementary mistake, but here is the proof anyway.
Secondly, having been in the business for 13 years helps me to see when an indicator ads value or not within a very short space of time and finally, there are no "private" conversations going on anywhere. It is open to anyone who cares to improve his/her knowledge on how to trade forex.
Mladen is undoubtedly one of the finest programmers that we have the pleasure to have his FREE services from and I for one believe in his work implicitly. Also, you admitted from the very first post that the development comes as your firts or 3rd maybe?, attempt at coding and as Mladen very kindly pointed out, he does NOT understand the logic you have used in writing the indicator.
My question to you was a very simple one and that is whether the indicator now in its "correct" form is performing the functions for which you tried to design it for? Very simple.
I have to study the work of this fine gentleman who wrote the original article and who knows, maybe I even talk to him direct to see if we can get some sense out of his work. From what I see he has a valid point - the closest I can come to represent his levels is by using a TrendEnvelope (which I use with great success anyway), but if his work shows consistently the different levels where one could jump onto a trade at a valid bounce, then it needs pusrsuing and that is the reason for me trying to understand his work and your attempt at developing something like what he suggested.
I am disappointed that you did not show us a picture of your screen starting with the point in time I mentioned. Had you done that, you may have seen your mistake in selecting the wrong time and date yourself.
Maybe you can start another one this weekend and I will then take the same starting point and compare the two prints each day for 2 full trading days. My charts run 24/6 on 2 inverters, so no restart pictures here.
Sorry Valeo, it will take me some time to figure this all out. Im ot as near on your level so I am sorry but it will bel some time before I can post charts of what I might think I might have going on.
Hi Valeo,
After reading your post I sensed you are a bit offended so I immediately get back to my post to see if I posted smtg wrong. And yes the tone of my last post is very open to wrong understanding. So I have to excuse for that. But you can be sure it was not what I intended in that post on the contrary it was my frustration that I couldnt understand it.
I think the word `hidden` put the negative impression(so it is my bad english, i should have said 'missing'). I was thinking I think I missed some posts about the problems of the indicator but i couldnt see it. That was it. That was not a negative post. So excuse my english. I think you can understand from all my post(except this one:)) I am not one of those bad-tempered guys.
And about your problem. I REALLY couldnt understand your question. But after re-reading your posts I think now I got what you are asking.
First of all how I understood you wrong : I thought you put two MIDAS indicators and changed the color to brick and one of the VWAPs has been broken along the way. So I put both of versions starting from that time to check . They were exactly the same. So I got confused
But now I understand that you were not asking the VWAP line but you were asking the "TOPFINDER/BOTTOMFINDER" line which OFF (not drawn) in default settings. So I never imagined that you were asking that line. That was the problem...
So are you asking if topfinder/bottomfinder calculation is correct or not?
Or I misunderstood again?
After your answer I will continue...Because if it is TF/BF deserves a new post...
P.S. And lastly again, If I offended you I am really sorry. Never meant to do that.
P.S.(2) Creator of MIDAS Dr.Paul Levine has passed away after very short time he released these documents. We were lucky to have these.
Akif,
Akif
Good day Akif,
No offends taken or meant in my post to you and I do apologise if it came over like that. Your English is very good and although not your first language, you should be proud of your communicating English. Maybe just re-read the communication in English in stead of translating it by using mechanical tools available to us, as it does not take into consideration that the meaning of sentences also have a person with soul behind it and therefore cannot always portrait the writer's intent. Thank you for your kindness, which is much appreciated.
Now back to business:
No, I am not referring to the TOP/BOTTOM finders. I am quite happy with those.
I am in fact referring to the SECONDARY SUPPORT LEVEL (which you show as Brick-colour (or is it Red in the screen-print above?) and I changed mine to Yellow) (plse forgive the capital letters; not meant to shout, but just to highlite the line for better understanding). Also, I notice that yours also just show for a couple of bars, whereas Mladen's version at least runs all the way. Please clarify why your version only runs for a couple of bars too if you don't mind.
What "confuses" me about this line, is the fact that it seems to work perfectly in the beginning and the longer the time period, the more "confused" it seems to get.
I attach here for everyone's kind perusal, the screen-print at Friday's end of day:
The Yellow line which I have annotated in Red block and 2 Red-arrows, is the one in question. See where it comes from, but again look at how accurate it is towards the close of day.
My understanding (at this stage) is that this line forms the "SECONDARY SUPPORT LEVEL" all the time and therefore will stay within the price action so that we can pick up the areas where one could re-enter or add to our positions and if this is an incorrect understanding, please clarify that for me but that is how I raed and understood Dr. Levine's publications.
I am still studying the reports by Dr. Levine and I am sorry to hear that he had passed-on, but from the results he posted, it seems an absolute successful support level for adding on positions and/or re-entering and that is why I would love to have this clarified.
The indicator Mladen very kindly built, works perfectly and I am very happy with it. Once we have this issue sorted out, it may just be an extremely valuable tool you brought to the Forum.
Sincerely.
now i got it
Ok now I got it.
First of all there is no secondary support line in this indicator. Thats for sure.
What you have seen is THE topfinder/bottomfinder line. Check your indicator settings and when you set ShowTopFinder to false that line will be gone.
I cant exactly say why this happened because I didnt take a detailed look at the changes that mladen did. So there is something wrong in topfinder/bottomfinder line in v2.01. I know mladen did not change actual formulas but somehow the changes he made effected the TF/BF line.
My version cuts down TF/BF line after a couple of bars because its meant to behave like that. You fine tune this line into the pullbacks and it stops where it think is the TOP or the BOTTOM. How TF/BF is used is a long issue...
So as a result v2.0 can be a worse code in terms of CPU cycles but as far as I know it is working correctly. The safest is use v1 with manual date entering:) Advantage of that: since we hand written the date when you restart the metatrader your starting line will not be lost.. It is not very easy to have that feature with these dynamic start lines...( I know this is not an issue for you ValeoFX since your metatrader is open 6/24
)
Akif,
Ok now I got it.
First of all there is no secondary support line in this indicator. Thats for sure.
What you have seen is THE topfinder/bottomfinder line. Check your indicator settings and when you set ShowTopFinder to false that line will be gone.
I cant exactly say why this happened because I didnt take a detailed look at the changes that mladen did. So there is something wrong in topfinder/bottomfinder line in v2.01. I know mladen did not change actual formulas but somehow the changes he made effected the TF/BF line.
My version cuts down TF/BF line after a couple of bars because its meant to behave like that. You fine tune this line into the pullbacks and it stops where it think is the TOP or the BOTTOM. How TF/BF is used is a long issue...
So as a result v2.0 can be a worse code in terms of CPU cycles but as far as I know it is working correctly. The safest is use v1 with manual date entering:) Advantage of that: since we hand written the date when you restart the metatrader your starting line will not be lost.. It is not very easy to have that feature with these dynamic start lines...( I know this is not an issue for you ValeoFX since your metatrader is open 6/24
)
Akif,====================
OK, so let me confirm what you are saying please, Akif:
1. The Yellow line that I show on my charts are what exactly?
2. The top / bottom Magenta-dotted lines are the TOP / BOTTOM Finders and they seem to be accurate on the latest version.
3. What then is the use of that FireBrick-coloured line if that is not the Secondary Support Line? It starts off correctly on your version and then it goes all over the place. Maybe you could send me a picture of what yours looks like after a day's trading? It is pointless starting up every time as you will never see the true performance of this particular line.
If I cannot get to grips with this, I better just drop it as I have already spent far too much time trying to understand it, but if it works correctly, it just may be a valuable adjunct to our trading especially on the M30 and higher.
Sincerely.
====================
1. The Yellow line that I show on my charts are what exactly?
2. The top / bottom Magenta-dotted lines are the TOP / BOTTOM Finders and they seem to be accurate on the latest version.
3. What then is the use of that FireBrick-coloured line if that is not the Secondary Support Line? It starts off correctly on your version and then it goes all over the place. Maybe you could send me a picture of what yours looks like after a day's trading? It is pointless starting up every time as you will never see the true performance of this particular line.
Sincerely.Hi Valeo,
1. Your yellow line is TF/BF
2. Dotted magenta lines are just Shifted VWAPs. Solid magenta line is the VWAP and it is actually the main character in this indicator.
3. FireBrick colored line is TF/BF line. I havent talked too much about that line in this thread because it is very experimental and it is OFF by default. But we can talk about it in detail later. Basically it tries to estimate the TOP or the BOTTOM of the trend. It start with the indicator start and you MANUALLY adjust it with TopFinderVolumeNumBars parameter to fit to the pullbacks and when it cuts off drawing you understand that you have reached the top. But as I have said Dr. Levine was still working on it. And even he was saying that this is an experimental feature so i made it OFF by default.
I am attaching a snapshot explaning lines. I have changed TF line to blue for visibility it is by default in Brick color.
Akif,
Hi Valeo,
1. Your yellow line is TF/BF
2. Dotted magenta lines are just Shifted VWAPs. Solid magenta line is the VWAP and it is actually the main character in this indicator.
3. FireBrick colored line is TF/BF line. I havent talked too much about that line in this thread because it is very experimental and it is OFF by default. But we can talk about it in detail later. Basically it tries to estimate the TOP or the BOTTOM of the trend. It start with the indicator start and you MANUALLY adjust it with TopFinderVolumeNumBars parameter to fit to the pullbacks and when it cuts off drawing you understand that you have reached the top. But as I have said Dr. Levine was still working on it. And even he was saying that this is an experimental feature so i made it OFF by default.
I am attaching a snapshot explaning lines. I have changed TF line to blue for visibility it is by default in Brick color.
Akif,==================
Thanks Akif, I will now look at it with a different perspective.
Best wishes.
here we can see the sup/resis working fine
what i see so far, on both indicators (from mladen and akafi), is tha the top-bottom-finder is more like a top-bottom marker... to me it doens find anything, both allways marks the top of the candle you are trading (dont know if I'm missing something here)
but the VWAP is a nice one, here you can see a nice bounce back from it on the EURUSD
I' m testing it on the m15, h2, h8 and daily charts
i've read some of the material posted here by akafi, and i'll take a look at this blog on the weekend Intro to MIDAS
hope you guys have a nice day