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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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Additional Benefit: Applying the MDC to Trending Markets to Capture Swing Highs in Uptrends and Swing Lows in Downtrends

A MIDAS critic might make the lesser complaint that just as a standard MIDAS S/R curve fails to identify significant swing highs and lows in sideways markets, it also fails to capture the swing highs in normally trending rising markets and the swing lows in normally trending falling markets. This would be a fair assessment. In contexts where the end of a trend leads to a genuine trend reversal, we have seen in Figure 14.1 that standard MIDAS S/R curves do an exceptional job of capturing the swing lows in uptrends and the swing highs in downtrends. Yet traders would also benefit from a curve which captures both sides of an uptrend ...

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