Re: [RT] WinMidas does it really matter?

["ramon" <rbarros@xxxxxxxxxxxxxxxxxx>]

Hi All

The contribution that Levine made to technical
analysis was the anchoring of the moving average
to a price, be it a low (uptrend), high (downtrend) or
mid as the WinMidas plot. Both the MIDAS support and
resistance do identify areas for low risk entry.

I do agree that the volume aspects makes little impact.
I trade FX and have found that using a volume of 1 or
substituting true range for volume does not vary significantly
the MIDAS line when compared to the 24 hr globex
prices for the major currencies.

regards

ray

----- Original Message -----
From: Prosper <brente@xxxxxxxxxxxx>
To: Real Traders <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, June 24, 2001 5:32 AM
Subject: [RT] WinMidas does it really matter?


> RT's,
>
> Bob Folks often reminded us to try and find out what is really happening
> with an indicator, tear it apart and find out what is really at work. I
have
> tried to do this. If you replace the price related values in the indicator
> with 1, it returns 1, so the volume part cancels itself out. If you
replace
> the volume part with price you get a plot like the one in the attached
.gif.
> Does this indicator simply add a smoothed cumulation value to price? Code
> for the plot in the .gif is below.
>
> Prosper
>
> Input: YYYMMDD(1000801);
> vars: mp(0);
>
>
> value1=0;
> value2=0;
>
>
> if date >= YYYMMDD then begin
>
> mp= (High + Low)/2;
>
> value1 = value1[1] + (mp*c{v});
> value2 = value2[1] + c{v};
> value3 = value1/value2;
>
> Plot1(value3,"_Midas S/R");
>
> end;
>
>
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