May 2011
Intermediate to advanced
464 pages
13h 30m
English
book
MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets
by Andrew Coles, David G. Hawkins
Content preview from MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets
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Using MIDAS with the Indices—The TB-F
Now let's apply the TB-F to market indices. Since the MIDAS S/R curves work well on indices, there's every expectation that the TB-F will also. In Figure 6.8 are three completed topfinders fit to daily data of the S&P 500 (using the NYSE composite volume). The points they are fit to are quite late in the moves; about a week after each fit point, the topfinder ends, and price enters a consolidation. Notice that the TB-F is working just as it does on individual stocks. There are further examples of TB-F fits to market indexes later in this chapter.
FIGURE 6.8 S&P 500 Index, daily bars, with three completed topfinders.
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