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 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.
So my feeble trader mind understands ... sell when price is in the top red and buy when price is in the bottom dark green?
Daveatt
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@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
Daveatt
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@Mister_Sparkle, yes you got the concept
Red zone (according to this model) means it's overvalued
Jabba01
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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
Daveatt
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@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
Indicator-Jones
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I really like this indicator! Just one question … depending on the timeframe and also when zoom-in or zoom-out the mayer multiple zones change - so how do I know when it's positioned correctly? Thank you 🙏