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10/06/21 10:53
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By Carl-Gustav · Posted
NUMBER 2: MIDAS Trading Tools [Download Link, Zip File] MIDAS which is an acronym for Market Interpretation/Data Analysis System is the innovative work of the late technical analyst Paul Levine. Levine strongly believed that the dynamic interplay of support and resistance and accumulation and distribution are the ultimate determinants of price behavior. After examining and rejecting all of the standard technical analysis techniques for determining support and resistance, he came up with a new approach - MIDAS! The introduction of the MIDAS Trading Tools indicator has been a culmination of my trading experience and creative application. New ideas have been implemented and collaboration with other traders such as Robert Young (US) have helped make this indicator enriched and dynamic. In the readings below, you will find the description of the variables that make up the indicator. MIDAS Trading Tools consists of TWO stand alone indicators for each type of market environment: MIDAS Support/Resistance Curves - reveals powerful support & resistance levels as well as a method to gage the relative strength of a given trend MIDAS Top-Bottom Finder Algorithm - monitors the available fuel in an accelerated trend to predict the top or bottom based on the cumulative volume How To Use: Basic Strategy & Concept Identify the origin of a trend in any market. Attach MIDAS to your chart. Click and hold on the Red vertical line and drag it to a recommended anchor point. Wait for price to pull back to the MIDAS Support/Resistance curve and generate a buy or sell signal. Enter the market when a signal is formed with a minimum risk to reward ratio of 1:1+. If price accelerates away before pulling all the way back to the MIDAS Curve; fit the Top-Bottom Finder to the present pullback(s) (by adjusting the cumulative volume in the bottom right corner) to predict the top or bottom. When the Top-Bottom Finder burns out at 100%, a retracement to the MIDAS Support/Resistance curve becomes likely. If you are brand new to the MIDAS Trading System and interested in discovering the powerful trading method developed by the late Paul Levine, I recommend reading: MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Todays Markets. The authors walk you through the wonderful MIDAS world and explain its variations with copious charts and examples. Start off by reading the introductory chapters, then jump to the very practical money-making Chapter 8 and apply the principles yourself. -
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