Daveatt

BEST Mayer Multiple

Hello traders

I'm not a HODLer by any means. I know when to sell (or I think I know....) when an asset starts going against me too much.
Even if it's a "long-term" investment.

My mentor used to telling me this: "If a short-term trade becomes a long-term investment, then you're in for a hell of a ride".
I have no clue if Bitcoin / BTC will go back up or not - I don't even care because I'm an intraday trader.

What if BTC was actually a way to accumulate more fiat? Satoshi fooled us

I coded this Mayer Multiple according to the specifications below. By the way, I'm a big fan of Willy Woo. I've been monitoring all his work since I learned about crypto (10 minutes ago.... it's a joke come on)
https://charts.woobull.com/bitcoin-mayer-multiple/

Scaling

To respect the Mayer's multiple model, I recommend to select the Logarithmic scaling as shown below
https://imgur.com/a/zSI71tE

What Mayer's model says

Using the reference below, the model says we're in the oversold zone. But, we can be in that zone for months/years...
When a model says an asset could bounce in a 1000-7000 USD range... well... I don't know how I would be able to perform optimally with that insight. This is very subjective and not a recommendation.

Mayer's Multiple model reference

All the BEST
Dave
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?
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Comments

So my feeble trader mind understands ... sell when price is in the top red and buy when price is in the bottom dark green?
+2 Reply
Daveatt Mister_Sparkle
@Mister_Sparkle, this model is more a long-term investment framework rather than a trading tool I think.
I only transformed into code an idea
I'm not using this to trade cryptocurrencies
Reply
Daveatt Mister_Sparkle
@Mister_Sparkle, yes you got the concept
Red zone (according to this model) means it's overvalued
Reply
thanks @Daveatt interesting tool considering the 200D MA as reference for support & resistance, and extending this with common factors. those you report here are relevant for the up trends, do we have equivalent for down trends, like common support levels? i guess it is interesting to have the original Mayer multiple graph available beside, in order to adapt the levels' multiplication factors depending on the studied market. We need to work on a dynamic S/R levels finder to get corresponding factors injected dynamically!
else, minor: lines 41-44 seem not relevant, sma_final* would be missing. Anyways, you always provide nice coding techniques. Thanks
+2 Reply
Daveatt ja88a
@ja88a, Hey there
- the 200D can be used for both uptrends and downtrends. Whether the price is located above or below and how trending is the MA.
Trending with a down angle means a downtrend
- didn't get the part about sma_final missing sorry
Reply
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