MIDAS Trading Tools
MIDAS which is an acronym for Market Interpretation/Data Analysis System is the innovative work of the late technical analyst Paul Levine. The MIDAS approach is a stunning and most fascinating approach to the market as to how well it works and successfully manages to capture market pullbacks and predict top/bottoms with most definite precision.
The instructions and information below are at its very best a basic understanding of the MIDAS Technical Analysis System. It is highly recommended that traders interested in the MIDAS Indicators purchase the "MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Todays Markets" - by Andrew Coles and David Hawkins to fully learn and understand the power of the MIDAS Technical Analysis System.
MIDAS Support / Resistance Curves
The MIDAS S/R + High + Low curves forms a channel that represents dynamic S/R in the market. It works exceptionally well for capturing pullbacks from impulses and/or breakouts.
When and How to Use the MIDAS S/R Curve(s) + High + Low
- Identify an accelerated price move (impulse and/or breakout) in any market.
- Launch a MIDAS S/R curve from the start of the accelerated move.
- Wait for price to pull all the way back to the MIDAS S/R curve.
- Look for any type of odds enhancer that price will react to the MIDAS S/R curve, such as a divergence (in overbought/oversold conditions), etc.
- Enter a position with a Stop Loss above/below the MIDAS S/R curve.
- The T-B Finder (Top/Bottom Finder) is an algorithm which when used correctly shows how much cumulative volume or "fuel" a trend have and can therefore be used to predict the end of a trend or most certainly the end of a market sentiment. When used properly with other market timing tools one can get very accurate reversal as well as trading signals for exiting and/or entering a position.
- As the T-B Finder gets closer to its burnout-point the color changes gradiently, becoming darker and more rich in color. A percentage (%) is also shown at the end of the T-B Finder curve which displays how much cumulative volume or "fuel" is used up.
When and How to Use The T-B Finder
- Identify an accelerated price move where price fails to pull all the way back to the MIDAS Support/Resistance curve.
- Launch a T-B Finder curve fitted to the first pullback (the pullback that didn't make it all the way to the MIDAS Support/Resistance curve).
- Identify where it ends which is the burnout point (100% of the cumulative volume or "fuel" used up), and
- Imply that where it ends will result in some form of price response, especially and most often a pullback to the nearest MIDAS Support/Resistance curve.
- Show Shifted VWAP: True/False - (Displays MIDAS Displacement Curve)
- Show Shifted VWAP2: True/False - (Displays MIDAS Displacement Curve)
- Show Top Finder: True/False - (Displays Top/Bottom Finder)
- Top Finder Volume Num Bars: 30 - (Select how much volume should be used for the Top/Bottom Finder)
- Show Percent: True/False - (Displays percentage for the Top/Bottom Finder)
Magic Number: 1 (Important: You need to assign a unique number to each copy that is launched to any chart or profile in your MT4 Terminal.
-Drag and Drop features for easy adjustment and better user experience
-MIDAS + High + Low Curves
-Two Displacement Curves
-Magic Number; You need to assign a unique number to each copy that is launched to any chart or profile in your MT4 Terminal.