Summary

  • Over the past few years VWAP standard deviation bands have evolved into hybrid MIDAS standard deviation bands. In this chapter the VWAP formula is replaced by the MIDAS formula to ensure that these bands are genuine MIDAS standard deviation bands.
  • Despite the uncertainty, it's possible to program this indicator in the Metastock scripting language and this chapter has seen the first instance of the indicator in Metastock.
  • The indicator can be applied to all market conditions—sideways as well as to uptrends and downtrends.
  • When applying the indicator to smaller segments of trends, or in lower intraday timeframes, the multipliers must be reduced so that the bands become narrower. If they aren't, they'll be measuring larger segments of the ...

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