MAGNUS® Cycles

This indicator will help you if you struggle making any profit in bitcoin .
It generates very few signals with very nice profit potential ( around 100% this year ! ).
Perfect tool for longterm swing traders and new traders that need help figuring out the midterm trend.

Use it with these parameters only:
weekly: 13, 5, 12
daily: 92, 21, 96
Keluarkan daripada Skrip Pilihan Tambah kepada Skrip Pilihan
study(title="MAGNUS® Cycles", shorttitle="MAGNUS® Cycles")
//try these parameters/timeframes:
//weekly: 13,  5, 12
//daily:  92, 21, 96

length = input(92, minval=1, title="Williams %R Length")
upper = highest(length)
lower = lowest(length)
out = 100 * (close - upper) / (upper - lower)

len0 = input(21, minval=1, title="EMA Short Length")
len1 = input(96, minval=1, title="SMA Long Length ")

m0 = ema(out, len0)
m1 = sma(out, len1)

col = m0>m1?aqua:fuchsia

plot(out, color = green)
plot(m0, color = white)
plot(m1, color=orange)
band1 = hline(-20)
band0 = hline(-80)
fill(band1, band0)


NIce Work...Good Indicator.

Thank you
nice sir , thank u sir
this seems to work on shorter timeframes for BTC on bitfinex such as the 1 hour
+1 Balas
Great indicator! what are the best parameters for hourly timeframes?
+9 Balas
very good indicator and works with other markets too.
+2 Balas
can you explain how to read the indicator?
+2 Balas
fairly easy: if background color changes, wait for the current candle to close and than take the trade (or look for a better opportunity if you think there definitely will be one).
So let's look at the last signal: purple background color changed to cyan. this means we are in a bullish market now ... kindof :) look at all the signals in the past ... they are pretty good :D
+1 Balas
Only works on BTC?
+1 Balas
This could be usefull in other markets aswell. However I tested it only in Bitcoin and it is kind of curve fitted to Bitstamp specifically. You can play around with the parameters and try some backtesting. Let me know if you find any valueable setups : ]
+1 Balas
Noobincrypt MagnusTradingGroup
yah a bit off for btce, i havnt played with it enough to set it for that exchange, thanks for the script
+1 Balas
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