MIDAS technical analysis

MIDAS Technical Analysis
Original author(s)Paul Levine, PhD (Gen-1 curve and Topfinder/Bottomfinder)
Developer(s)Andrew Coles, PhD, David Hawkins, Bob English (new MIDAS curves and new MIDAS indicators)
Initial release1995
Websitehttp://www.midasmarketanalysis.com

In finance, MIDAS (an acronym for Market Interpretation/Data Analysis System) is an approach to technical analysis initiated in 1995 by the physicist and technical analyst Paul Levine, PhD,[1] and subsequently developed by Andrew Coles, PhD, and David Hawkins in a series of articles[2] and the book MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets.[3] Latterly, several important contributions to the project, including new MIDAS curves and indicators, have been made by Bob English, many of them published in the book.[4]

Paul Levine's initial MIDAS work and the new MIDAS approaches developed in the book and other publications by Coles, Hawkins, and English have been taught at university level and are currently the subject of independent study intended for academic publication.[5] The same MIDAS techniques have also been widely implemented as part of private trader and hedge fund strategies.[6] The MIDAS curves and indicators developed by Levine, Coles, Hawkins, and English have also been commercially developed by an independent trading software company for the Ninja Trader trading platform,[7] while individual curves and indicators have been officially coded by developers of a large number of trading platforms, including Metastock, TradeStation, and eSignal.[8]

The new MIDAS curves and indicators are in line with the accomplished MIDAS goal of developing an independent approach to financial market analysis with unique standalone indicators available for every type of market environment while also offering information not available from other technical analysis systems.

  1. ^ Dr Levine's lectures were originally published on the website of Windows on Wall Street, a popular software trading platform which became a subscription-based utility in 2001 through Financial Data Casting. Until Dr Levine's death in 2001, the lectures were also published on Dr Levine's and Dr Stokes Fishburne's own website which distributed the early WinMIDAS software developed by Dr Levine and Dr Fishburne.
  2. ^ See sections 1.4 and 1.5 below for full published article citations for Coles and Hawkins.
  3. ^ Coles, PhD, Andrew and Hawkins, David (2011). MIDAS Technical Analysis: A VWAP Approach to Trading & Investing in Today's Markets. Hoboken, New Jersey: John Wiley & Sons, Inc. ISBN 978-1-57660-372-7.
  4. ^ See in particular Coles' Chapter 17 of Coles, PhD, and Hawkins (2011).
  5. ^ MIDAS techniques have been taught by Amir Naser Hojati, a PhD candidate at the Institute for Economic Research & Development, University of Tehran, and by Dr Bruce Vanstone, at Bond Business School, Bond University. Dr Vanstone and Mr Hojati are also collaborating on an academic study involving the programming of MIDAS curves and indicators intended for academic publication based on the day trading techniques developed by Coles in Chapter 3 of Coles (2011). Mr Hojati has been interviewed in the Iranian daily economic newspaper Donya-e-Eqtesad about his investment management course at the Institute of Economic Research & Development which incorporates MIDAS technical analysis and other volume-based techniques.
  6. ^ The MIDAS curves and indicators have been extensively discussed on trader and investor forums, including Elite Trader, Trade2Win, Traders Laboratory, Ninja Trader, and Traderji.
  7. ^ The independent website of the trading indicator software development company is www.midasanalysis.com. There is no commercial affiliation between this company or this company website and Coles, Hawkins, and English.
  8. ^ Cite error: The named reference :0 was invoked but never defined (see the help page).