Candlestick Daily volume index Bar reversal Edit

Backtest results

Position Trades Duration Win rate Win/loss Avg win Avg loss Return
Long 10 4.5 20% 25% 1.6% -0.8% -3.4%
Short 5 4.2 40% 67% 1.9% -3.2% -5.9%

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Trading Performance

Elder Ray Index

Score

-0.25

Position Trades Duration Win Rate Win/Loss Avg Win Avg Loss Return
LONG 23 25.9 0.61% 1.08% 3.4% -2.1% 20.6%
SHORT 21 8.3 0.38% 0.50% 1.5% -1.8% -17.1%

Summary

Technical Analysis

Midway (MWY.AX)


Indicator:

ELDER RAY INDEX


Last Signal:

BULLISH


Trading: BUY @ $3.53
Signal Strength: MEDIUM
Recommendation:

Volatility indicators highlight potential moves of a stock which can either move sharply in the updwards or downwards direction. This indicator allows stocks to be compared on a level playing field to highlight high and low volatility. Normally, falling markets are more likely to be volatile than a rising markets due to the emotion that gets tied to trading. Use volatility indicators in conjunction with other indicators to reduce exposure to false moves.


Midway (ASX:MWY) Elder Ray Index is signalling a Bullish movement



A technical indicator developed by Alexander Elder that measures the amount of buying and selling pressure in the market. This indicator consists of two separate indicators known as bull power and bear power. These figures allow a trader to determine the position of the price relative to a certain exponential moving average (EMA).

Calculation: Elder Ray Index (ERI):
1) Bull Power = Daily High - n-period EMA;
2) Bear Power = Daily Low - n-period EMA;


PROFILE: Midway (MWY.AX)


Stock Exchange: ASX
Company: Midway
Ticker Codes: | MWY.AX | ASX:MWY |

About Midway (ASX:MWY):

Midway Limited produces, sells, and exports wood fiber products to producers of pulp, and paper and associated products in Australia, Japan, and China. It primarily offers hardwood and softwood woodchips. The company also provides plantation management services to third party tree owners. Midway Limited is based in North Shore, Australia.

Top 10:

Elder Ray Index

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CGS Cogstate 0.22 10 8,100 -0.01 BEARISH
EWC Energy World Corporation 0.1 9.2 682,001 -0.01 BEARISH
PRU Perseus Mining 0.77 8.5 17,484,605 -0.01 BEARISH
RMS Ramelius Resources 0.86 8.2 7,633,542 -0.03 BEARISH
CCV Cash Converters International 0.16 6.7 696,944 -0.08 BEARISH
BPT Beach Petroleum 2 5.3 9,549,948 -0.18 BEARISH
CUV Clinuvel Pharmaceuticals 32.81 5.2 256,141 0 BEARISH
PRT Prime Television 0.23 4.5 173,226 -0.02 BEARISH