Midas Channel

midas_ch

Function Name: midas_ch

Tags: None

Category: None

This indicator is based on a mathematical modification of the volume weighted average price. The Midas curves (see "Midas Indicator" works because price and volume readings marking the start of change in trends are linked with the subsequent changes in price and volume readings. Any indication that price is reversing against the upper or lower band of the Midas channel will imply that it will move back at least as far as to the standard Midas curve or else to the opposite band. If the price breaks out, this is usually a significant occurrence because it indicates a resumption of or change in trend. When price does break out, the outer boundary will often reverse its support/resistance role.

 

Author: Paul Levine

Source: Stocks & Commodities July 2010

 

Parameters

StartMinute

 

Default Value: 30  |  Minimum: 0  |  Maximum: 59

 

Type: Numeric

StartHour

 

Default Value: 9  |  Minimum: 0  |  Maximum: 23

 

Type: Numeric

StartDay

 

Default Value: 1  |  Minimum: 1  |  Maximum: 30

 

Type: Numeric

StartMonth

 

Default Value: 1  |  Minimum: 1  |  Maximum: 12

 

Type: Numeric

StartYear

 

Default Value: 2009  |  Minimum: 2000  |  Maximum: 2010

 

Type: Numeric

UpperPct

 

Default Value: 0.1  |  Minimum: 0  |  Maximum: 100

 

Type: Numeric

LowerPct

 

Default Value: -0.2  |  Minimum: -100  |  Maximum: 0

 

Type: Numeric