This is an update to a previous post noting the resemblance of the Mayer Multiple breakout to the trend in early 2013. Unfortunately, that post and several others were apparently in violation of TradingView rules because I had linked to my twitter account and emails.
Anyways, since then the multiple has reverted back to the 2SD line. I'm increasingly convinced that technical analysis fails to predict where we go from here because of complex social and political factors. Still, it's interesting to note the resemblance, and the indicator is a good way to keep track of the parabolic trend.
Anyways, since then the multiple has reverted back to the 2SD line. I'm increasingly convinced that technical analysis fails to predict where we go from here because of complex social and political factors. Still, it's interesting to note the resemblance, and the indicator is a good way to keep track of the parabolic trend.
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Here is my Mayer Multiple script:
