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MIDAS Trading Tools

Demo downloaded: 4 116

Published: 27 July 2016

Current version: 4.70

MIDAS Trading Tools

Name: MIDAS Trading Tools
Rating: 4.9166665 (12 reviews)
Author: Carl Gustav Johan Ekstrom

4.92

Indicators
Carl Gustav Johan Ekstrom
Version: 4.70
Updated: 1 May 2024
Activations: 20

The introduction of the MIDAS Trading Tools indicator represents the culmination of my trading expertise and innovative application. By incorporating new concepts and collaborating with fellow traders like Robert Young (US), we have enriched and enhanced this indicator. In the sections below, you'll find detailed descriptions of the variables comprising this indicator.

MIDAS which is an acronym for Market Interpretation/Data Analysis System is the innovative work of the late technical analyst Paul Levine. Levine strongly believed that the dynamic interplay of support and resistance and accumulation and distribution are the ultimate determinants of price behavior. After examining and rejecting all of the standard technical analysis techniques for determining support and resistance, he came up with a new approach - MIDAS!

MIDAS Trading Tools consists of two standalone indicators tailored for different market environments:

1. MIDAS Support/Resistance Curves: Unveils potent support and resistance levels while providing a method to assess the relative strength of a prevailing trend.

2. MIDAS Top-Bottom Finder Algorithm: Monitors the available "fuel" within an accelerating trend to anticipate potential tops or bottoms based on cumulative volume.

Basic Strategy & Concept

1. Identify a trend in any market.

2. Attach MIDAS Trading Tools to your chart.

3. Click on the red vertical line and drag it to a recommended anchor point ◆.
4. Activate the Buy/Sell Alert System by clicking the circled button in the top right corner. White = OFF / Blue = ON.
5. Wait for the price to retract to the MIDAS Support/Resistance curve, signaling a buy or sell opportunity.
6. Enter the market when a signal is generated, ensuring a minimum risk-to-reward ratio of 1:1+.
7. If the price accelerates away before fully retracing to the MIDAS Curve, launch and adjust the Top-Bottom Finder to the current pullback(s) by manipulating the cumulative volume in the bottom right corner to predict potential tops or bottoms.
8. When the Top-Bottom Finder reaches 100%, a retracement to the MIDAS Support/Resistance curve becomes probable.

For those new to the MIDAS Trading System and eager to explore the powerful trading methodology pioneered by the late Paul Levine, I suggest delving into "MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Today's Markets." The authors guide you through the fascinating MIDAS universe, elucidating its variations with abundant charts and examples. Start by perusing the introductory chapters, then dive into the practical, profit-oriented Chapter 8 to apply these principles firsthand.

Parameters

Show Recommended Anchor Points: True/False
Show Displacement Curves: Yes/No
Top-Bottom Finder Fuel Step (Cumulative Volume): 5
Show Signal: Yes/No
Show Signal for...: All/Retracement/Break
Signal Color: Yellow
Pop-Up Alert: Yes/No
Pop-Up Alert Sound: ok.wav
Push Notification: Yes/No
Email Message: Yes/No

more...

1593

Epsilon Hogas 2022.06.16 05:22 #

Its a good indicator for identifying pullback buy position, thank you

366

Dapo01 2022.05.11 21:12 #

Very effective Indicator for predicting price reversal. It is quite precise. Very supportive telegram group. Great trade with precise entry today. Highly recommended.

620

Irfan 2022.05.11 18:20 #

It is really a very effective trading tool. Also great support and guidance from the author.

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Filter:

629

Robert 2023.05.13 13:07 #

User didn't leave any comment to the rating

4114

Reply from developer Carl Gustav Johan Ekstrom 2023.05.13 13:15 #

Thank you! :)

1736

faithdefender 2022.07.26 23:47 #

I think if you are going to sell an indicator for a certain strategy after a person, you should be able to help guide the customer through the concept. Not just sending a twelve page document filled with YOUR indicators with limited pages dealing with the Midas indicator. While in the Telegram group, I asked for help with identifying placement of the indicator. It was a sincere question. Answer? "Isolated highs and lows are the best place to anchor MIDAS." He also said he would show how in the following text. But, he removed that text and has never responded. If things work out, I will update my review. But this speaks volumes when someone offers minimum help on an expensive indicator. UPDATE 8-23-22. Still not able to find the "isolated highs" where i was instructed toplace the indicator. Never heard back from the Vendor. I think the indicator could be be a tool if it had training where to place the points, but as I said, I have tried to take the indicator and place it at multiple spots where it may come and touch, but it does not. It is a bummer I didnt read the review by Hadi below that says "A supporting group with promising indicators. The author is more than welcome for us to learn more and the theory." What does that tell the customer when someone writes 'with promising indicators....'? Promising what? Did he even try the indicator? 10-6-22 I am upgrading my review to 4 stars. While I am still trying to figure it out, it has always been my conviction that quality AND price should be considered when writing a review. In fairness to the Vendor, this indicator is affordable and for that reason this should mitigate the review. I am still lost using it, but I do think someone with knowllege of VWAP may benefit. For this reason I want to remain positive. Update. 10-28-22 The indicator does not consistently work. When you apply it to the chart the vertical line is visible, but wherever you post it, the three lines will not display. I have sent a note to the Vendor. I have had to reduce the rating unless it is repaired. UPDATE 5-12-23 As you can see the Vendor has made some instructive and beneficial changes and I want to update the rating to four stars. He has designed it for people learning to use MIDAS and this most certainly helps me. I will continue to evaluate, but for now I have no problem with a recommendation. Thank you

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Reply from developer Carl Gustav Johan Ekstrom 2023.05.11 10:25 #

Thank you for your extensive review. I have sent you a PM to try resolve the issue. Update: Please download the latest version (4.60) to find recommended anchor points :)

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Epsilon Hogas 2022.06.16 05:22 #

Its a good indicator for identifying pullback buy position, thank you

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:24 #

Thank you

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cattledog 2022.05.18 11:01 #

User didn't leave any comment to the rating

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Reply from developer Carl Gustav Johan Ekstrom 2022.07.09 16:50 #

You rented the indicator and immediately left a bad review. You haven't tried to contact me in any way.

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Dapo01 2022.05.11 21:12 #

Very effective Indicator for predicting price reversal. It is quite precise. Very supportive telegram group. Great trade with precise entry today. Highly recommended.

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:24 #

Thank you

620

Irfan 2022.05.11 18:20 #

It is really a very effective trading tool. Also great support and guidance from the author.

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dkaramarko 2022.05.11 11:40 #

very useful and recommended and author is highly friendly and always prepared to help

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:24 #

Thanks

180

Vasileios Kapsis 2022.05.05 20:47 #

This is a first review concerning the MIDAS approach. As I gain experience I will keep adding more information. It looks like a very interesting tool. It requires some trading knowledge and you need to do your homework. It is not a black box that calls trades. It is a real trading tool. It is very easy to install and Carl-Gustav (the author) has a Telegram channel to assist members. Carl-Gustav is a professional trader and not some programmer that converted a trading system to an indicator. Overall the value for money is excellent and the support is outstanding.

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:24 #

Thank you :) :)

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Sofwan Hadi 2022.04.26 09:06 #

A supporting group with promising indicators. The author is more than welcome for us to learn more and the theory.

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thank you

2154

Joao Flores Neto 2018.01.16 17:51 #

One of the best indicators, congrats, good job, guy.

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thanks

sateeqpal 2017.10.26 19:04 #

User didn't leave any comment to the rating

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thank you

161

spacejockey 2017.10.13 13:05 #

Great Indi

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thank you :)

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jackhammer42 2017.09.09 15:42 #

User didn't leave any comment to the rating

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thank you :)

572

Bazi Siguqa 2017.08.24 00:38 #

This is the first time where I am giving a good review because the product really works, other wise its always been about "the author asked me to give a good one". This is boss indicator I mean BOSS product!! I recommend u read the whole book by Andrew Coles and Hawkins

The best part is the support from developer!

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:25 #

Thank you very much :)

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ZHE WEI 2017.08.21 09:12 #

User didn't leave any comment to the rating

fellan 2017.08.08 12:50 #

User didn't leave any comment to the rating

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:26 #

Thank you

266

sbashir 2016.08.18 00:07 #

Simple effective and best. it requires some deep knowledge about swings, candle stick patterns. what i feel is if you learn it you will never be in the need of any other indicator. Above all the author is one of the nicest person i have ever encountered with on mql5. Great Job

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Reply from developer Carl Gustav Johan Ekstrom 2023.03.10 13:26 #

Thank you

Version 4.70 2024.05.01

Enhancements to visual appearance.

Version 4.60 2023.05.11

Major Update!

+ Visual improvements
+ Top-Bottom Finder algorithm improved
+ Indicator response time improved
+ Recommended anchor points
+ Price labels
+ Alert system
+ Buy and Sell signals
+ MIDAS displacement curves (adjustable)

Version 4.50 2022.07.01

Minor Fixes.

Version 4.40 2022.06.17

Minor Fixes.

Version 4.30 2022.06.17

Major Upgrade include the following,

+ Buy/Sell Signals added.
+ On Chart Signal Button added.
+ Displacement Curves added.
+ Time Frame Memory added.
+ Pop-Up Alert added.
- Top-Bottom Finder Removed.

Version 4.20 2022.04.26

Minor Update

- It is now possible to adjust the T-B Finder Percent (%) Comment under "Percent Distance)

Version 4.10 2022.04.21

Minor Adjustment: Made T-B Finder "False" by default so that you can make it "True" when you spot an accelerated trend.

Version 4.0 2022.04.11

Version 4.00: Improved User Experience!

- I have temporarily removed the Shifted VWAP. It will be back when further improved.

- Chart ID have been added, now you can have several copies on the chart.

- Visual aspects have been improved and enlarged.

Version 3.99 2018.02.14

Version 3.99 - Back to Original MIDAS + Improvements (Paul Levine Indicator)

- Top/Bottom Finder (TB-F) have been added back on and users will be able to adjust to the correct volume or "fuel" necessary to fit the TBf Curve to point D directly on the chart. You no longer have to go back and forth in the settings.

- Shifted VWAP1 and VWAP2 have been added back on as well but with no adjustments as it is better for users to be able to fit and select high/lows of their interest, and not automatically.

- TD Relative Retracement have been removed, it is now available to download for free here: https://www.mql5.com/en/market/product/26640

Signals are discontinued until version 4.0 as major improvements are needed.

Version 3.95 2018.01.16

Version 3.95

Whats New?

- Buy and Sell Signals
- Break Signals

Version 3.90 2018.01.12

TD RRET + MIDAS v3.9 !

>>Read below before upgrading!<<

This version is merged with TD Relative Retracement (TD RRET) by Thomas DeMark.
This version mechanically determines the correct levels and anchor point, simply select high/low.

Important Notes:

1. I have decided to exclude the Top/Bottom Finder from this version until I can make point D be mechanically determined. I will also included a Top/Bottom Finder Price Projection in later versions.

2. I have decided to exclude the MDC from this version as well until I can make it mechanically determine the correct high/low to use, for better user experience and consistent analysis.

Version 3.50 2017.08.14

MIDAS Trading Tools Version 3.50 contains;

-Drag and Drop features for easy adjustment and better user experience

-MIDAS + High + Low Curves

-Two Displacement Curves

-Magic Number; You need to assign a unique number to each copy that is launched to any chart or profile in your MT4 Terminal.