Nice script, and thanks for sharing. So, will price reach the Mayer lines target every time price trade above the 200 MA?
cryptocrypte
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@ilesanmipepsi, as I understand it, Trace Mayer has found these ranges that historicly indicated tops. I like to think of it as elastic ribbons. Above 200MA is a definition of a bull market. A Mayer multiple of 1.7 might be like the tension on that elastic ribbon, that might be a place where it snaps back, to retest the 200MA, or a multiple of 2.5 or higher might be too much tension that it breaks and will crash into a bear market.
ilesanmipepsi
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@cryptocrypte, hmm, what a great secret from Trace Mayer! Thanks for the explanation, I really appreciate your time.