MIDAS Top Bottom Finder
A Most Unusual Indicator
Paul Levine developed the TB-F in order to characterize an accelerated price move while it is in progress. He recognized that a price trend that is sufficiently rapid—accelerated—is a powerful, almost explosive event. Such events do not meander on endlessly; they have uniquely recognizable beginnings, middles, and ends. Each accelerated trend has a specific amount of cumulative trading volume that it consumes during its run, and once that is expended, the move is over. The purpose of the TB-F, when applied to anaccelerated trend that is in progress, is to identify, from the behavior that the trend has already displayed, what the total cumulative volume of the trend will have been once it ends. Having such information is, of course, very valuable to the trader, because then the trader can identify the end of the trend when it arrives, without having to wait for subsequent price action to reveal that the end has already passed.
To learn more about the T-B Finder download the "MIDAS Technical Analysis: A VWAP Approach to Trading and Investing in Todays Markets" - by Andrew Coles and David Hawkins.
When and How to Use The T-B Finder
- Identify an accelerated price move.
- Launch a T-B Finder curve fitted to point D which is the first pullback of the accelerated price move.
- Identify where the curve ends; the burnout point (100% of the cumulative volume or "fuel" used up), and
- Imply that where it ends will result in some form of price response.
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