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
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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)


Great indicator! what are the best parameters for hourly timeframes?
+13 Responder
@TENXBITTRADER, if u find one let me know? And using BYBIT on tradingview
@TENXBITTRADER, I put the best perimeters inputs up top that work 95-100% accuracy
very good indicator and works with other markets too.
+3 Responder
can you explain how to read the indicator?
+2 Responder
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 Responder
this seems to work on shorter timeframes for BTC on bitfinex such as the 1 hour
+1 Responder
Only works on BTC?
+1 Responder
This could be usefull in other markets aswell. However I tested it only in Bitcoin and it is kind of curve fitted to Bitstamp specifically. You can play around with the parameters and try some backtesting. Let me know if you find any valueable setups : ]
+1 Responder
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