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
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:
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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
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Minor changes to prescript comments. See how to video above.
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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:
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minor update regarding anchoring from week 1 of any year. Please watch both videos above for How to use information.
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 ,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, 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.
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.