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MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets by David G. Hawkins, Andrew Coles

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Using MIDAS Topfinder/Bottomfinder Curves in Markets without Volume: The Daily and Weekly Cash FX Charts

It may seem even more surprising that the more complex topfinder/bottomfinder (TB-F) curves can be applied to higher timeframe cash FX markets without volume data. In fact however the TB-F algorithm, like the standard S/R curves, requires no more than the same nominal “1” to replace actual cumulative volume data from the markets.

To see that this is so, a simple parabolic displacement can be created that mimics the more complex theoretical example given in Chapter 4. Readers will recall that the volume displacement d is replaced by the more complex e in the TB-F formula, so that e is related to d parabolically through the equation e = d * ...

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