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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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Equivolume Charting

Before showing examples of the properties of the MIDAS curves, let's consider what method of charting provides the most comfortable home for the MIDAS curves. In the first of his 18 articles on the MIDAS method, Paul Levine shows a typical, time-based chart of a stock, with price in the upper pane and volume in the lower, and with the horizontal axis marked off with equally spaced dates. But that's essentially the last time-based chart he shows. For his second chart, he says: “… we plot the prices vs. CUMULATIVE VOLUME rather than time.”2 And virtually all of the rest of the charts in his articles are done that way. The horizontal axis is linear in cumulative volume, and he labels it that way, without any reference to date ...

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