OPEN-SOURCE SCRIPT
Gold Compass Lite
OVERVIEW
Gold Compass Lite is a simplified, fully open-source companion to Gold Compass Pro, giving traders a free, at-a-glance read on Gold (XAUUSD) trend, pullback, momentum, and compression conditions via a compact dashboard.
HOW IT WORKS
These four conditions are combined directly into the dashboard's Trend, Signal, Action, Market State, and Momentum fields — there is no filtering, confirmation, or signal-locking layer between the raw conditions and the display. This is intentionally a simpler, faster read than Pro, not a scaled-down version of Pro's multi-engine logic.
WHY THE SOURCE IS OPEN
The logic above is fully visible in the code below. Gold Compass Lite is meant to demonstrate our approach to trend, pullback, momentum, and compression analysis on gold — feel free to review, learn from, or build on it.
LIMITATIONS
Uses historical and current price data only; it cannot predict future prices. Not a signal generator — it is a context dashboard meant to be read alongside your own analysis, not traded mechanically.
Gold Compass Lite is a simplified, fully open-source companion to Gold Compass Pro, giving traders a free, at-a-glance read on Gold (XAUUSD) trend, pullback, momentum, and compression conditions via a compact dashboard.
HOW IT WORKS
- Trend — derived from price position relative to the 50/100/200 EMA structure.
- Pullback — flagged when price sits on the opposite side of the 21 EMA from the prevailing trend.
- Momentum — a stochastic %K/%D crossover.
- Compression — flagged when recent closing-price standard deviation falls below a fraction of current ATR.
These four conditions are combined directly into the dashboard's Trend, Signal, Action, Market State, and Momentum fields — there is no filtering, confirmation, or signal-locking layer between the raw conditions and the display. This is intentionally a simpler, faster read than Pro, not a scaled-down version of Pro's multi-engine logic.
WHY THE SOURCE IS OPEN
The logic above is fully visible in the code below. Gold Compass Lite is meant to demonstrate our approach to trend, pullback, momentum, and compression analysis on gold — feel free to review, learn from, or build on it.
LIMITATIONS
Uses historical and current price data only; it cannot predict future prices. Not a signal generator — it is a context dashboard meant to be read alongside your own analysis, not traded mechanically.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Creator of Gold Compass | XAUUSD market analysis & trading tools
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Creator of Gold Compass | XAUUSD market analysis & trading tools
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.