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jayy
19 aug 2017 22:00

MIDAS VWAP Jayy  

NASDAQ:AAPL1D
Apple Inc.NASDAQ

Beskrivning

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his is just a bash together of two MIDAS VWAP scripts particularly AkifTokuz and drshoe.
I added the ability to show more MIDAS curves from the same script.
The algorithm primarily uses the "n" number but the date can be used for the 8th VWAP
I have not converted the script to version 3.
To find bar number go into "Chart Properties" select " "background" then select Indicator Titles and "Indicator values". When you place your cursor over a bar the first number you see adjacent to the script title is the bar number. Put that in the dialogue box midline is MIDAS VWAP . The resistance is a MIDAS VWAP using bar highs. The resistance is MIDAS VWAP using bar lows.
In most case using N will suffice. However, if you are flipping around charts inputting a specific date can be handy. In this way, you can compare the same point in time across multiple instruments eg first trading day of the year or an election date.
Adding dates into the dialogue box is a bit cumbersome so in this version, it is enabled for only one curve. I have called it VWAP and it follows the typical VWAP algorithm. (Does that make a difference? Read below re my opinion on the Difference between MIDAS VWAP and VWAP ).
I have added the ability to start from the bottom or top of the initiating bar.
In theory in a probable uptrend pick a low of a bar for a low pivot and start the MIDAS VWAP there using the support.
For a downtrend use the high pivot bar and select resistance. The way to see is to play with these values.

Difference between MIDAS VWAP and the regular VWAP

MIDAS itself as described by Levine uses a time anchored On-Balance Volume (OBV) plotted on a graph where the horizontal (abscissa) arm of the graph is cumulative volume not time. He called his VWAP curves Support/Resistance VWAP or S/R curves. These S/R curves are often referred to as "MIDAS curves".
These are the main components of the MIDAS chart. A third algorithm called the Top-Bottom Finder was also described. (Separate script).
Additional tools have been described in "MIDAS_Technical_Analysis"
Midas Technical Analysis: A VWAP Approach to Trading and Investing in Today’s Markets by Andrew Coles, David G. Hawkins
Copyright © 2011 by Andrew Coles and David G. Hawkins.
Denoting the different way in which Levine approached the calculation.
The difference between "MIDAS" VWAP and VWAP is, in my opinion, much ado about nothing. The algorithms generate identical curves albeit the MIDAS algorithm launches the curve one bar later than the VWAP algorithm which can be a pain in the neck. All of the algorithms that I looked at on Tradingview step back one bar in time to initiate the MIDAS curve. As such the plotted curves are identical to traditional VWAP assuming the initiation is from the candle/bar midpoint.
How did Levine intend the curves to be drawn?
On a reversal, he suggested the initiation of the Support and Resistance VVWAP (S/R curve) to be started after a reversal.
It is clear in his examples this happens occasionally but in many cases he initiates the so-called MIDAS S/R VWAP right at the reversal point. In any case, the algorithm is problematic if you wish to start a curve on the first bar of an IPO .
You will get nothing. That is a pain. Also in Levine's writings, he describes simply clicking on the point where a
S/R VWAP is to be drawn from. As such, the generally accepted method of initiating the curve at N-1 is a practical and sensible method. The only issue is that you cannot draw the curve from the first bar on any security, as mentioned without resorting to the typical VWAP algorithm. There is another difference. VWAP is launched from the middle of the bar (as per AlphaTrends), You can also launch from the top of the bar or the bottom (or anywhere for that matter). The calculation proceeds using the top or bottom for each new bar.
The potential applications are discussed in the MIDAS Technical Analysis book.

Versionsinformation

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THis script updates the MIDAS/Anchored vwap script to fix an error and a slight change to bar numbering. A "how to" video is here:

Versionsinformation

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Updated script title to include "Anchored" Vwap in the displayed title. Click on the How to video directly above to view

Versionsinformation

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Minor changes to prescript comments. See how to video above.

Versionsinformation

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Removed some artificial limits on n bar numbers.
created workaround for TV Pine script "weekofyear" function which cannot accommodate years with 53 Mondays ie 53 weeks. "Weekofyear" currently is limited to 52 weeks beginning with a Monday.
The script allows you to pick a date that falls on a day when no trading activity occurs. The anchor point defaults to the first trading day when the market is open after the inputted calendar date.
This video demonstrates the use of the script using date/time:

Versionsinformation

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minor update regarding anchoring from week 1 of any year. Please watch both videos above for How to use information.
Trend Analysismidasanchoredvwap
Kommentarer
jayy
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A closer look at the interaction of MIDAS/ anchored VWAP and AAPL price action. See below for anchor points (first day of trading 2017 and first bar of the 2017 buyable gap up):
jayy
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Here is an update of the MIDAS/Anchored VWAP posted above:
jayy
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This script is now redundant with the introduction of the built-in TradingView Anchored VWAP tool described here. tradingview.com/blog/en/anchored-vwap-is-on-tradingview-18573/ jayy
691007
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@jayy ,thanks for sharing. Did you say that your indicator can be initiated on the first bar of an IPO. It seems if I choose the starting bar number as 1, which is the lowest allowed, the indicator calculates data from the first bar, but only anchors the curse from the second bar. I wonder if you could kindly use a recent IPO's intra-day chart as an example such as BYND's 15-minute chart.
jayy
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@691007, It will have to updated. In the meantime use: tradingview.com/script/rst5AlV9-Top-Bottom-Finder-Public-version-Jayy/ here are instructions:
Jayy
691007
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@jayy, Many thanks. When I anchor the curve from the mid of the first bar on BYND one-hour chart, it looks quite similar to what Brian Shannon posted on his Twitter.
jayy
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Nice video on Anchored VWAP/MIDAS by Brian Shannon of Alphatrends: youtube.com/watch?v=tJDNmQ9THwc
Neverstorm
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Very interesting! Maybe this is a dumb question but I just have to ask... Is there any way to code the Midas channels to form at regular intervals perhaps utilizing something like a Parabolic SAR? Or after a confirmed fractal was formed? Or with change in Weis Wave trend? Thanks for all the cool indicators you work on keep up the good work!
jayy
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@Neverstorm, Yes triggers could be built in. eg gaps, large bars, Weis waves -although there a tendency to use highs and lows of waves instead of high closes and low closes of waves, etc. As a start what you would need to do is define/describe the trigger. Jayy
Sh0t
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I am experienced trader that came across the Midas technical analysis book today. I appreciate your comments on the system.
Mer