Imagine VWAP, MVWAP and MIDAS in one place… Well, you found it! Now you can track the movement of Big Players in various ways, as they in general pursue the benchmarks related to this measuring, gauging if they had good execution or poor execution on their orders. Traders and analysts use the VWAP to eliminate the noise that occurs throughout the day, so they can measure what prices buyers and sellers are really trading. VWAP gives traders insight into how a stock trades for that day and determines, for some, a good price at which to buy or sell.
The MIDAS (Market Interpretation/Data Analysis System) addition is a work initiated by Paul Levine that derived to the very well known book “MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today’s Markets“. Several approaches derived from this work and this indicator, MIDAS Super VWAP is one version that reunites the best of this kind of data into one single entity in Metatrader 5.
If you do not know about how to use VWAP/MVWAP/MIDAS and its importance I really recommend you to study not only the aforementioned book but the several and freely available videos on the web about the subject. I assure you they are a world apart…
Enough of talking…
SETTINGS
- Show VWAP line o chart?
- Show MVWAP line on chart?
- What kind of period do you want for the MVWAP calculation?
- MIDAS buttons:
- Buttons X offset distance on the chart
- Buttons Y offset distance on the chart
- Buttons TOP colors
- Buttons BOTTOM colors
- Buttons text color
- Calculation Mode:
- Open, High, Close, Low, Median (H+L)/2, Typical (H+L+C)/3, Weighted (O+H+L+C)/4
- Volume Type: Real Volume or Ticks.
Hello, is this indicator available as a thinkscript in ThinkorSwim?
No. sorry.