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GC / MGC / GLD Cash-Close Ladder Jessnat
This indicator builds a dynamic price ladder for Gold Futures (GC / MGC) based on the relationship with GLD (Gold ETF) using the previous U.S. cash session close.
It mirrors ETF-to-futures alignment, allowing you to visualize where gold futures are trading relative to their implied GLD value.
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How it works
• The script captures the previous cash close (3:59–4:00 PM New York time) for:
• GC1! (Gold Futures)
• GLD (Gold ETF)
• It calculates a fixed daily ratio:
GC / GLD
• Using this ratio, the script:
• Converts the current GC/MGC price into an implied GLD value
• Rounds it to your selected step size
• Builds a ladder of levels above and below
• Converts those levels back into GC/MGC price levels
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What appears on chart
• Horizontal levels plotted on GC or MGC charts
• Each level represents a GLD-equivalent value
• Labels display the corresponding GLD price
• Center level reflects the current rounded implied GLD
• Symmetrical structure above and below the center
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Why use this
• Identify structured levels derived from ETF alignment
• Spot potential mean reversion and extension zones
• Understand how futures are trading relative to cash-based value
• Useful for intraday structure, execution, and bias
⸻
Key concept
Gold futures (GC / MGC) and GLD move together, but not on a 1:1 scale.
This script normalizes that relationship into a structured ladder based on actual market closes rather than arbitrary levels.
⸻
Notes
• Designed for GC and MGC charts
• Uses GC1! as the futures anchor for both contracts
• Ratio updates once per day after the New York cash close
• Levels are based on price, not contract size
It mirrors ETF-to-futures alignment, allowing you to visualize where gold futures are trading relative to their implied GLD value.
⸻
How it works
• The script captures the previous cash close (3:59–4:00 PM New York time) for:
• GC1! (Gold Futures)
• GLD (Gold ETF)
• It calculates a fixed daily ratio:
GC / GLD
• Using this ratio, the script:
• Converts the current GC/MGC price into an implied GLD value
• Rounds it to your selected step size
• Builds a ladder of levels above and below
• Converts those levels back into GC/MGC price levels
⸻
What appears on chart
• Horizontal levels plotted on GC or MGC charts
• Each level represents a GLD-equivalent value
• Labels display the corresponding GLD price
• Center level reflects the current rounded implied GLD
• Symmetrical structure above and below the center
⸻
Why use this
• Identify structured levels derived from ETF alignment
• Spot potential mean reversion and extension zones
• Understand how futures are trading relative to cash-based value
• Useful for intraday structure, execution, and bias
⸻
Key concept
Gold futures (GC / MGC) and GLD move together, but not on a 1:1 scale.
This script normalizes that relationship into a structured ladder based on actual market closes rather than arbitrary levels.
⸻
Notes
• Designed for GC and MGC charts
• Uses GC1! as the futures anchor for both contracts
• Ratio updates once per day after the New York cash close
• Levels are based on price, not contract size
Release Note
Update v1.1:Improved label positioning using bar_index for consistent right-side extension.
No changes to calculation logic.
Release Note
Added a top-right ratio box showing locked and live GLD↔GC ratios plus previous closes, and corrected the cash-close logic to use the most recent close-window value.
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ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน