Actualizado
Gold Strength Basket
Is gold rising, or is the dollar falling? This script answers it on the chart, bar by bar.
WHAT IT DOES
• Prices gold in five other currencies (EUR, GBP, JPY, CHF, AUD) and measures each one's move over the same window as XAU/USD: since today's daily open by default, or over a rolling number of bars.
• Averages them into an "ex-dollar" gold return (blue line) and plots it next to gold in USD (orange line).
• The gap between the two is the dollar effect (columns): the part of the XAU/USD move that belongs to the dollar, not to gold.
• Dashboard: gold in USD, ex-dollar basket, dollar effect, the currency gold is strongest and weakest against, and a one-line read: broad gold strength or weakness, mostly a dollar move, or a gold move with a dollar tilt.
• Four alerts: dollar weakness or strength takes over the move; basket turns positive or negative.
WHY IT MATTERS
XAU/USD is a ratio. A 1% rally can be gold bid everywhere (the basket rises with it) or a pure dollar slide (gold flat in EUR and JPY while the USD leg does all the work). The two cases do not behave the same at the next dollar headline, and most gold dashboards cannot tell them apart. This one is built to.
HOW TO USE IT
1. Add it to any XAU/USD chart, any timeframe. Symbols default to standard spot gold crosses; change them if your data plan uses another feed.
2. Orange above blue: the dollar is helping. Blue above orange: gold is strong on its own and the dollar is fighting it.
3. Use the read as context, not as a trigger: a broad gold move and a dollar-only move deserve different stops and different reactions to US data.
SETTINGS
Six symbols; window mode and rolling length; dollar-driven threshold (in percentage points); dashboard position and size; colours.
Open-source so you can read exactly how the basket is built. No indicator is infallible.
WHAT IT DOES
• Prices gold in five other currencies (EUR, GBP, JPY, CHF, AUD) and measures each one's move over the same window as XAU/USD: since today's daily open by default, or over a rolling number of bars.
• Averages them into an "ex-dollar" gold return (blue line) and plots it next to gold in USD (orange line).
• The gap between the two is the dollar effect (columns): the part of the XAU/USD move that belongs to the dollar, not to gold.
• Dashboard: gold in USD, ex-dollar basket, dollar effect, the currency gold is strongest and weakest against, and a one-line read: broad gold strength or weakness, mostly a dollar move, or a gold move with a dollar tilt.
• Four alerts: dollar weakness or strength takes over the move; basket turns positive or negative.
WHY IT MATTERS
XAU/USD is a ratio. A 1% rally can be gold bid everywhere (the basket rises with it) or a pure dollar slide (gold flat in EUR and JPY while the USD leg does all the work). The two cases do not behave the same at the next dollar headline, and most gold dashboards cannot tell them apart. This one is built to.
HOW TO USE IT
1. Add it to any XAU/USD chart, any timeframe. Symbols default to standard spot gold crosses; change them if your data plan uses another feed.
2. Orange above blue: the dollar is helping. Blue above orange: gold is strong on its own and the dollar is fighting it.
3. Use the read as context, not as a trigger: a broad gold move and a dollar-only move deserve different stops and different reactions to US data.
SETTINGS
Six symbols; window mode and rolling length; dollar-driven threshold (in percentage points); dashboard position and size; colours.
Open-source so you can read exactly how the basket is built. No indicator is infallible.
Notas de prensa
v1.1• Gold in each currency is now built from XAU/USD and the FX pairs themselves (EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, AUDUSD, USDSEK), on the same feed and timestamps, instead of pre-computed gold crosses. CAD added; SEK available (off by default). Each currency can be switched off.
• Weighting: Equal, DXY-like (EUR 57.6 / JPY 13.6 / GBP 11.9 / CAD 9.1 / SEK 4.2 / CHF 3.6, renormalised over the enabled currencies) or Median.
• Window: returns can be anchored at the daily open, the week open, the Asia / London / New York open (times and timezone configurable), or measured over a rolling number of bars.
• Dollar effect now also shown in gold points and in daily ATR, with its signed share of the move, and ranked as a percentile against its own history of completed periods.
• Per-session attribution: how much of each session's move (Asia, London, New York) came from gold itself and how much from the dollar.
• Reading gate: moves below a minimum size are flagged QUIET instead of being attributed. New read for opposite-sign cases (gold vs dollar fight).
• Alerts: dollar takes over (weakness / strength), basket turns positive / negative, composition changed, dollar effect at extreme (90th percentile).
No indicator is infallible. A decomposition describes the move; it does not predict the next one.
Measured, not assumed. Full studies with sample sizes and confidence intervals: deltaterminal.io/research
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Measured, not assumed. Full studies with sample sizes and confidence intervals: deltaterminal.io/research
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.