BTC Mayer Multiple is a great indicator but today we also need to ponder alts price action. Considering this we developed an adjusted version of the Mayer Multiple (our Major Mayer Multiple) replacing BTC with Total Market Cap from 2016/2017 and also introducing a second Moving Average. This changes may not be enough to detect reversals in the next cycles but they give more accuracy than focusing only on BTC.
This indicator is quite configurable so we provide clues about some settings you can adjust as you want…
- 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.
Script and Examples