MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets
by Andrew Coles, David G. Hawkins
The Basic Program of the TB-F
Paul Levine1 developed the TB-F in order to characterize an accelerated price move while it is in progress. He recognized that a price trend that is sufficiently rapid—accelerated—is a powerful, almost explosive event. Such events do not meander on endlessly; they have uniquely recognizable beginnings, middles, and ends as in Figure 4.6 of Chapter 4. Each accelerated trend has a specific amount of cumulative trading volume that it consumes during its run, and once that is expended, the move is over. The purpose of the TB-F, when applied to an accelerated trend that is in progress, is to identify, from the behavior that the trend has already displayed, what the total cumulative volume of the trend will have been once ...
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