MIDAS Technical Analysis

Beschreibung

Market Interpretation/Data Analysis System, or MIDAS, was developed by physicist and technical analyst Paul Levine, in the mid 1990s. It was originally conceived of as a method of analyzing market trends inspired by aspects of the popular Volume Weighted Average Price (VWAP) pricing method. Essentially, what Levine discovered was that he could accurately predict reversals in trader sentiment-and, therefore, market trends-using algorithms derived, in part, from VWAP pricing methods. Extending Levine's insights from the daily charts on which the method was conceived, Coles and Hawkins have since expanded the fractal capabilities of the approach to apply to all time frames-from one-minute charts and swing-trading charts to charts of interest to the very long-term investor. Because Levine's focus was on MIDAS purely as a forecasting tool, he failed to develop a framework for trading and investing management. Coles and Hawkins address this issue throughout the book by emphasizing how the MIDAS approach can be combined with Japanese candlesticks and other volume-based chart styles for effective trade and investment management. Writing for traders and investors, as well as technical analysts, Coles and Hawkins explain, in plain English, the basic principles of MIDAS as originally laid down by Paul Levine. However, for the majority of the book they move into new MIDAS territory, illustrating how new manipulations of the MIDAS algorithms result in new types of indicators and curves applied to entirely new market environments and time series, and how the untold story of volume powerfully affects the plotting of MIDAS curves. The authors also demonstrate how MIDAS curves can work alongside sophisticated techniques such as float analysis and market profile, how MIDAS curves can be improved by atypical calibrated launch points, and how additional techniques such as new MIDAS-based oscillators and trading bands can improve market timing. In the nine chapters comprising the final part of MIDAS Technical Analysis, Coles and Hawkins detail how advances in trading hardware andsoftware have made it possible to extend MIDASto areas Levine never dreamed of. They show how MIDAS-especially when used in conjunction withrobust charting methods, such as Japanese candlesticks-can function as a complete trading system, or be used as a supplementary tool for greatly enhancingtrading effectiveness. They also explain how to develop a MIDAS trading system using existing off-the-shelf technologies. Requiring no prior experience with the MIDAS approach, MIDAS Technical Analysis gets readers quickly up and running with the knowledge and skills needed to take full advantage of the incredible power of this sophisticated approach to timing and trading the markets.
"If you are already familiar with MIDAS and interested in rediscovering the powerful trading method developed by the late Paul Levine, then this will become your book of reference. The authors walk you through the wonderful MIDAS world and explain its variations with copious charts and examples. If you are new to the MIDAS method, I recommend first reading the introductory chapters, then jumping to the very practical, money-making Chapter 8, then applying the principles yourself (computer code is provided in the appendices). Armed with 'hands-on' knowledge, you will then access the wealth of information that this book provides in helping you correctly read the markets." -- Pascal Willain, independent trader and inventor of volume-based indicators, author of Value in Time "As the first person to ever write about the Commitments of Traders Report way back in 1973, I have seen the data abused and usually greatly misunderstood. Most people writing on the subject just don't understand it and you will be misled. Chapter 12 in this book sets the record straight. I am delighted to give a 100% endorsement, the truth of the COT report is here, simply stated and easy to understand. Don't put this book down. Take it to the checkout and buy it." -- Larry Williams, private trader, author "Coles and Hawkins have masterfully combined the 'art and science of Technical Analysis' into a well-illustrated and comprehensive tome encompassing the MIDAS method. They have captured the essence of Paul Levine's MIDAS Technical Analysis method and then further expanded it into a new dimension. This book will give any trader the unconventional alternative edge they need to take advantage of the stock market and exploit profits." --StockShare Publishing LLC "The authors pick up where Levine left off, boldly and competently tackling both the theoretical aspects of Levine's MIDAS method, as well as providing concrete practical trading applications. There were some delightful diversions as well, including a superb overview of how to mechanically apply the statistics in the CFTC Commitments of Traders report. It is a privilege to be sourced on some of the pages, as this book has earned its reference status." -- Bob English, Austrian Economist, Market Technician, and Trader "The MIDAS curves can be used in any markets over any timeframe. They are flexible, robust, and powerful. Andrew Coles' and David Hawkins' work on the MIDAS curves is pure gold." -- Jayanthi Gopalakrishnan, Editor,Technical Analysis of STOCKS & COMMODITIES magazine "In this extremely well-developed book, Hawkins and Coles have drawn together a number of ideas, their own and existing methods, in order to construct a concise and disciplined method of analysis and trading. I am particularly delighted to see the recognition of volume as a powerful and often neglected tool. This integration of methods should serve as a profitable tool for those who are willing to do the work to understand why markets move. A well-thought-out technical treatise that belongs in the library of any inquiring technician." -- Richard W. Arms, author, advisor to institutions, and developer of many tools such as The Arms Index and Equivolume charting "I started using MIDAS from the time Paul Levine began publishing his articles in instalments. In the intervening years, I have made MIDAS my own. And I did think it was unlikely that Coles' and Hawkins' book would bring fresh insights. Boy was I wrong! This is an amazing book. Most books tend to be practical to the exclusion of the theory - theory that is so necessary if we are to adjust a tool when it 'stops working;' or tend to be so theoretical as to be impractical. MIDAS Technical Analysis straddles both worlds with ease. As a result, the book is both a reference work and a practical 'to do' volume. What I like most about Coles and Hawkins is they have taken Levine's original idea and conquered new realms with it: they have incorporated MIDAS with other technical tools so that the work should appeal to traders of many and varied disciplines. In my view, this is a must-have book and it shall certainly occupy a space in my shelves." -- Ray Barros, CEO, BarroMetrics Investments Inc

Autor*in

Andrew Coles

Themen in »MIDAS Technical Analysis«

Finance & Investments Finanz- u. Anlagewesen Investments & Securities Kapitalanlage Kapitalanlagen u. Wertpapiere

Stimmen zu »MIDAS Technical Analysis«

Details

Link teilen