Author - Publication: Mikołaj Zakrzowski, Marek Zatwarnicki Author - Algorithm: Mikołaj Zakrzowski Author - Code: Marek Zatwarnicki, Derek Gruening
Inspired by: Mayer Multiple by Trace Mayer Category: Technical Analysis Type: Indicator Timeframe: 1D Only Index: INDEX:BTCUSD Only
About: According to Willy Woo Mayer Multiple is "A way to gauge the current price of Bitcoin against its long range historical price movements (200 day moving average), the Mayer Multiple highlights when Bitcoin is overbought or oversold in the context of longer time frames". My friend, Mikolaj Zakrzowski, decided to modify and adjust this indicator so that it could be normalized. This procedure allows for easier interpretation, and clear signals of the end of the ups and downs of a given Bitcoin cycle.
How to use: BUY - Buy some Bitcoin , when label on last candle shows "Buy". SELL- Sell some Bitcoin , when label on last candle shows "Sell".
Formula: - Mayer Multiple - Close / ta. sma (close, 200) - Formula for normalization is an intellectual property of Mikolaj Zakrzowski.
Overfitting: The presented algorithm is characterized by log regresion determined as of 01/01/2022. Tests with historical data show that the algorithm is very likely to work equally well the following years.
Disclaimer: Past good results do not guarantee future trading success. Please use the algorithm with caution and support it with your knowledge. Published algorithm decisions are not financial advice.
Great work! Request: could you add a hline at the 0.5 level? This would be a good way to see if price is in a "discount" or "premium"
neardaniel
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Is it possible to see the script itself my friend? This is amazing and I wanted to learn from you!
kstategrad07
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When I try to use this indicator on the daily chart for the BTCUSD all-time history index, it shows a red exclamation mark and says: "Study Error - Error on bar 200: In 'array.get()' function. Index 106 is out of bounds, array size is 101." The indicator used to work fine on this chart, but now it doesn't. Do you know if this can be fixed? Thanks!
thriftyTacos14850
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Seems it should has option to be adjustble top and bottom line
kerrjo73
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Thanks heaps. appreciate your efforts, I wonder if the buy line will get touched in the near future?