Summary
- Despite the concerns raised by cash FX traders regarding the reliability of tick data as a substitute for volume data, the MIDAS system performs more than adequately when using intraday tick volume in comparison to intraday near-month futures volume data.
- Because of the shift in trading centers globally in the 24 cash FX markets, certain times of the day, particularly during trading session overlaps, will often result in sustained volume trends, or at least in sharp volume fluctuations. Ironically in the former case, it's important to consider using volume-free MIDAS S/R curves and TB-F curves to confirm price swings as much as standard curves, especially when the volume-based MIDAS curves are likely to be subject to porous price moves. ...
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