OPEN-SOURCE SCRIPT
Major Mayer Multiple
Updated
Adjusted version of the BTC Mayer Multiple developed by Trace Mayer https://www.theinvestorspodcast.com/bitcoin-mayer-multiple/
This version includes two novelties. The first one replaces BTC with Total Market Cap from 2016/2017 (depending on your moving averages) to present and the second is that we consider two Moving Averages to produce more detailed lows.
This version includes two novelties. The first one replaces BTC with Total Market Cap from 2016/2017 (depending on your moving averages) to present and the second is that we consider two Moving Averages to produce more detailed lows.
Release Notes
Added a new Setting: Color Length- SMA #A – Default Mayer Multiple SMA, can be changed from 200 Days to something else.
- SMA #B – Adjusted Mayer Multiple MA for more details, this daily SMA can be lower or higher than the previous.
- MMM EMA – Major Mayer Multiple EMA colored line for a smoother visualization. If this EMA is set to 1 it will essentially match the Major Mayer Multiple Area. Low values tend to be more interesting but even a 200 EMA can give you lagging entry and exit points for larger time frames. This EMA is calculated based on the current time frame (of your chart) and not on the daily basis.
- Color Length – Color length of the MMM EMA, it will help to adjust how the colouring of this EMA is made. For instance if MMM EMA is set to 1 and Color Length to 1, every time the EMA increases the line will change. This setting essentially exists to reduce noise when the direction changes for few ticks.
- Upper Band - Upper limit, triggers a color change on the Major Mayer Multiple Area
- Lower Band - Lower limit, triggers a color change on the Major Mayer Multiple Area
Side Note: No matter what time frame you use each SMA is calculated on the daily while each EMA using your chart time frame.
Release Notes
Minor Fix on the Major Mayer Multiple EMA colouringOpen-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.