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Here is a closeup shot with the WM support/resistance lines and how I apply
them. The docs Clyde posted discusses all this. End of day code is in the
July TASC page 75 "TradeStation EasyLanguage Midas Support and Resistance".
You locate the origin of the line at the time and price of the end of a
consolidation where price accelerates away from a previous wm line whether
it is support or resistance. The best origins occur if the point is also at
a previous wm line, but it can be near by. Levine said the end of the
consolidation was more important than it being located on a wm line. These
points also occur at trendline breaks so you might not find additional
utility in them, but there are enough times when price is falling and
suddenly stops dead on the line like we are seeing in afterhours. Once
price makes a peak such as at fibo resistance, then you start locating the
lines at the highs and then the lines(red) become resistance sell points
until broken to the upside again and then you continue with support lines.
I'll see what else I can dig up on them.
bobr
http://www.oextrader.com/sigma_trader
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, June 21, 2001 1:30 PM
Subject: Re: [RT] WinMidas article
> The attached chart has the Win Midas intraday support/resistance lines
> colored in red and cyan. They are accompanied by the dynamic fibonacci
and
> Gann midpoint posted this morning. Bet no one thought 1780 would be hit,
> not even me. They are basically a trailing kind of stop based on the net
> difference of cumulative price times volume between successive bars
divided
> by cumulative volume. They play on the accumulation and distribution of
> volume scaled by price, sort of. The origin of the lines is best located
at
> where price makes an acceleration away from a previous support line, i.e.
> where it comes out of a consolidation whether it be a base or a top. I'll
> see if i can find the code posted publically before and contact the guy
who
> wrote mine and see what his feelings are about releasing it.
>
> bobr
> http://www.oextrader.com/sigma_trader
>
>
> ----- Original Message -----
> From: "Prosper" <brente@xxxxxxxxxxxx>
> To: "Real Traders" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, June 21, 2001 12:52 PM
> Subject: Fw: [RT] WinMidas article
>
>
> > Maybe nobody else read it either. I have been inching my way through it.
> As
> > far as code is concerned the only site that came up with anything on a
> > search for WinMidas and Paul Levine code was a Russian site with text in
> > Russian,
> > so I haven't got a clue what it says.
> >
> > If the author explains how to plot those bands
> > it could be useful. I use a similar method with bands based on Fibonacci
> > retracements that works pretty well.
> >
> > Prosper
> >
> >
> > > ----- Original Message -----
> > > From: "J. Rodney Grisham" <Rod.Grisham@xxxxxxxxxxxxxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Cc: "Prosper" <brente@xxxxxxxxxxxx>; "BobR" <bobrabcd@xxxxxxxxxxxxx>
> > > Sent: Thursday, June 21, 2001 7:52 AM
> > > Subject: Re: [RT] WinMidas article
> > >
> > >
> > > > Prosper wrote:
> > > >
> > > > > Can any of you actually see the bitmap pictures in this article.
> > Without
> > > the
> > > > > example pictures, it's no good reading the article. So I'm
> wondering,
> > is
> > > it
> > > > > just my browser or is it the same for all of you?
> > > >
> > > > Earlier Bobr wrote:
> > > >
> > > > > Code has been posted in the past by others
> > > > > on rt for TS and MetaStock.
> > > >
> > > > I answered Prosper's direct question, but my question is the
> > > > following. Is Winmidas a method worth reading about? If so, do
> > > > you have any idea when the TS code was posted on rt (or elsewhere)?
> > > >
> > > > Thanks,
> > > >
> > > > Rod
> > > >
> > >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
> To unsubscribe from this group, send an email to:
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>
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>
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