I am curious about Paul Levine system after I read it here.
Can you help me on Paul Levine method of analysis ? Can you please give me some links on how to use the midas system. How can one use it with Amibroker or Metastock. You can please send me an email also to [email protected]. Thanks and regards.
Paul Levine system is also called ....MIDAS method, an acronym for Market Interpretation/Data Analysis System.
It is designed to focus attention on the dynamic interplay of support/resistance and accumulation/distribution which are the ultimate determinants of price behavior.
, in this approach, it is the price relative to the theoretical support curve that determines the degree to which the stock or commodity is overbought or oversold. This is in contrast to the more familiar methods of technical analysis which focus instead on price relative to moving averages, linear trendlines and/or previous tops and bottoms. The on balance volume in turn provides a measure of the "strength" of the support curve, i.e. whether it will hold or be penetrated
Thus while MIDAS methods could be used on single stocks to determine good entry points for long
positions suggested on fundamental (as opposed to technical) grounds, the trader will monitor many
stocks ( of the order of hundreds ) in order that sufficient opportunities will be found to keep capital off