AkifTokuz

Midas_Channel

Update: As you can see last channel is anchored wrong and I dont know how to edit that picture:) So here is the corrected one
https://www.tradingview.com/e/PMhbcHQY/

Middle Line : Traditional MIDAS line calculated with hl2
Lower Line: MIDAS line calculated with low values
Upper Line: MIDAS line calculated with high values
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// Akif TOKUZ
// akifusenet@gmail.com
// MIDAS Channel

study("Midas Channel", overlay=true)

startBar=input(title="Starting Bar Number",minval=1,maxval=100000,defval=20)

start = (n==startBar-1)


v = na(volume) ? 1 : volume

cumV = cum(v)
CumPV = cum(hl2*v)
SupportCumPV = cum(low*v)
ResistanceCumPV = cum(high*v)

startV = valuewhen(start,cumV,0)
StartPV = valuewhen(start,CumPV,0)
SupportStartPV = valuewhen(start,SupportCumPV,0)
ResistanceStartPV = valuewhen(start,ResistanceCumPV,0)

Midas = (CumPV-StartPV)/(cumV-startV)
SupportMidas = (SupportCumPV-SupportStartPV)/(cumV-startV)
ResistanceMidas = (ResistanceCumPV-ResistanceStartPV)/(cumV-startV)

middle = plot(Midas, color=aqua,linewidth=2)
lower = plot(SupportMidas, color=blue,linewidth=1)
upper = plot(ResistanceMidas, color=red,linewidth=1)
fill(lower,upper,color=#1c86ee,transp=80)
Nice work!!! Great addition to the library, Thanks! So simple but highly effective.
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piloteiat
2 years ago
Great tool - Thank You & GLT
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