A MIDAS Displacement Channel for Congested Markets
I briefly introduced the MIDAS Displacement Channel in the final section of Chapter 3 on how to capture the day's high and low using MIDAS.
In this chapter, I introduce this indicator and explain its role first and foremost in congested markets and then in trending markets and other chart contexts.
As we saw in Chapter 1, behind the MIDAS approach there's a thorough philosophy of what drives market prices. To recap, this philosophy can be reduced to five basic tenets that are implicit in Paul Levine's lectures:
- The underlying order of price behavior is a fractal hierarchy of support and resistance levels.
- This interplay between support and resistance is a coaction between ...