MagnusTradingGroup

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
Open-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 a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?
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)
bgcolor(col,transp=90)

Comments

Great indicator! what are the best parameters for hourly timeframes?
+14 Reply
+1 Reply
TENXBITTRADER TENXBITTRADER
@TENXBITTRADER, if u find one let me know? And using BYBIT on tradingview
Reply
TENXBITTRADER TENXBITTRADER
@TENXBITTRADER, I put the best perimeters inputs up top that work 95-100% accuracy
+1 Reply
JazzByrd JayP2577
@JayP2577, for 1 Hour, 24-12-24. Use %R crossing 50 line for confirmation in either LONG or SHORT direction.
Reply
very good indicator and works with other markets too.
+3 Reply
can you explain how to read the indicator?
+2 Reply
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
+2 Reply
this seems to work on shorter timeframes for BTC on bitfinex such as the 1 hour
+1 Reply
Only works on BTC?
+1 Reply
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