Log in to see Cloud of Tags

Wealth-Lab Wiki

Midas Indicator



public Midas(Bars ds, int startBar, string description)
public static Midas Series(Bars ds, int startBar)

Parameter Description

ds The symbol's Bars object
startBar The bar number at which Midas should start; generally a peak or trough.


The Midas indicators from the September 2008 issue of Stocks & Commodities magazine. Midas is the cumulative Price * Volume (PV) minus the cumulative PV from the startBar divided by the cumulative Volume minus the cumulative Volume from the startBar. The articles author, Andrew Coles, PhD., claims that "the MIDAS algorithm locates the real underlying order of markets — the fractally ordered hierarchical levels of support and resistance — at the volume-weighted average price taken over an interval subsequent to a reversal in trend."


// WealthScript from Sept 2008 Traders' Tip
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; } } } }

Important Disclaimer: The information provided by Wealth-Lab is strictly for informational purposes and is not to be construed as advice or solicitation to buy or sell any security.  The owner of Wealth-Lab.com assumes no liability resulting from the use of the material contained herein for investment purposes. By using this web site, you agree to the terms of this disclaimer and our Terms of Use.

ScrewTurn Wiki. Some of the icons created by FamFamFam.