MIDAS indicator - page 9

New comment
 
Igorrisimo:
Enhancements to the original Metastock MIDAS

Take a look at the excellent signals on the one-minute Eur/Usd chart in Figure 8, using increments of 1/3% .

//////////////

Indicator: SC_Coles_MIDAS

# SC_Coles_Midas

# This script automates the MIDAS bands described in the July 2010

# issue of Stocks & Commodities magazine

# enter volume or tick_volume for “voltype” input

input: displacement(0.01), voltype(volume), midcolor(red), bandcolor(blue), width(1);

# initialize variables

if (barnum == barsback) {

startbar = hotspot_to_bar(1);

pv, cum = 0;

MIDAS = close;

}

if (barnum >= startbar) {

# compute MIDAS calculation

pv = pv+ ((high+low)/2) * voltype;

cum = cum + voltype;

MIDAS = pv/cum;

# plot the results

plot1 = midas;

color1 = midcolor;

plot2 = midas*(1+displacement);

color2 = bandcolor;

plot3 = midas*(1-displacement);

color3 = bandcolor;

thickness1, thickness2, thickness3 = width;

}

/////////////////////////////////////////////

Is it possible for MT4 ?

All midas systems are based on volume

In original they are not designed to be traded on forex and as long as they are going to use volume, it will be better to use them on commodities than on forex

 

Hm.... But the author wrote: "we extended the calculation to include other volume types, such as tick volume. This allows us to apply Midas to instruments where volume data typically isn’t available, such as in forex. "....

(htt*://www.traders.com/Documentation/FEEDbk_docs/2010/07/TradersTips.html#TT7)

 
Igorrisimo:
Hm.... But the author wrote: "we extended the calculation to include other volume types, such as tick volume. This allows us to apply Midas to instruments where volume data typically isn’t available, such as in forex. ".... (htt*://www.traders.com/Documentation/FEEDbk_docs/2010/07/TradersTips.html#TT7)

From the real inventor of the Midas indicator (Paul Levine - this document is from 1995, but the indicator was invented long before that)

The whole commodities arena (indices, spot and futures) is terra incognita as far as MIDAS applications are concerned. My very preliminary research indicates that MIDAS techniques can provide trading advantages only on relatively short time scales (a few weeks) and only on some commodities at some times. In other words, when it works it works and carpe diem is the dictum.

Having thus exhausted both my Latin and the findings of several decades of MIDAS research, we have clearly reached a natural boundary in this Introductory exposition.

(Paul Levine)

Files:
midas_lesson-17.pdf  115 kb
 
mladen:
From the real inventor of the Midas indicator (Paul Levine - this document is from 1995, but the indicator was invented long before that)

Thanks for the document

Got the rest and they are interesting reading

 
checkin:
Thanks for the document Got the rest and they are interesting reading

Found an interesting video :

 

Video says that MIDAS is better than Bollinger Bands...I always thought that Better Bollinger Bands are better than Bollinger Bands...

 
Pava:
Video says that MIDAS is better than Bollinger Bands...I always thought that Better Bollinger Bands are better than Bollinger Bands...

Might help people to understand what is it all about. Too much "legend" about midas indicators (at least that is my opinion - when we can use volume (volume - not ticks) then it is a completely different story and I hope that people will understand that volume can not be replaced by ticks - which excludes forex on metatrader 4 for now when it comes to volumes usage in any calcutation)

 
Pava:
Video says that MIDAS is better than Bollinger Bands...I always thought that Better Bollinger Bands are better than Bollinger Bands...

After all aren't they almost the same?

 

only Bollinger himself can tell them apart

sebastianK:
:) After all aren't they almost the same?
 
Pava:
only Bollinger himself can tell them apart

They should probably be used on a daily charts

They were invented for daily charts after all

12345678910
New comment