`"Price" / "200d SMA"`
Mayer Multiple is a ratio between the current Market Price and its 200 days moving average.

Being a lagging indicator it shows periods of relative value for the asset but does not have much predictive power.

It is worth noting that the indicator relies on a fairly responsive moving average on the scale of a Bitcoin market cycle and as such may be best suited for the swing traders to find zones of extreme overbuys and oversolds within a market cycle.

The metric was introduced by Trace Mayer.