TASC 2008-09 | The Midas Touch (Cole)

Modified on 2010/09/12 11:24 by Eugene — Categorized as: TASC Traders Tips

Traders' Tip text

We’ve added Midas to our collection of drag-and-drop indicators from TASC magazine (Fig. 1, inset). By including the starting bar number as a parameter, the indicator is fully programmable, and, our script demonstrates how a number of Midas curves can be effortlessly added to a chart for quick viewing. The script plots five Midas indicators for the most-recent 7% peaks and troughs.

Figure 1. The indicators were plotted automatically by programming a simple peak/trough search and using the bar number results to obtain a new Midas indicator.

Strategy Code

Note! Requires TASCIndicators 1.0.2 or greater.

using System;
using System.Collections.Generic;
using System.Text;
using System.Drawing;
using WealthLab;
using WealthLab.Indicators;
using TASCIndicators;

namespace WealthLab.Strategies
{
	public class MidasTouch : WealthScript
	{	
		protected override void Execute()
		{
			const int c = 6;
			const double pct = 7d;
			Color[] color = new Color[c];
			color[0] = Color.Blue;
			color[1] = Color.Red;
			color[2] = Color.BlueViolet;
			color[3] = Color.Fuchsia;
			color[4] = Color.Green;
			
			DataSeries ap = AveragePrice.Series(Bars);
			DataSeries pbSer = PeakBar.Series(ap, pct, PeakTroughMode.Percent);
			DataSeries tbSer = TroughBar.Series(ap, pct, PeakTroughMode.Percent);
			int bar = Bars.Count - 1;			
			int n = 0;
			while (bar > 1 && n < c)
			{								
				int pb = (int)pbSer[bar];
				int tb = (int)tbSer[bar];
				bar = Math.Max( pb, tb );
					
				DataSeries midas = Midas.Series(Bars, bar);			
				PlotSeries(PricePane, midas, color[n], LineStyle.Solid, 2);
				n += 1;
				bar -= 1;
			}			
		}
	}
}