Gold Oscillator using SPX & DXY to measure the moving average cross of the 3.
Gold in Orange DXY in Green SPX in Blue
To use this indicator, you need to see the strength (Orange above the 50%) line, use your own configurations and settings for the two MA's as a cross.
The idea is not to enter trades but to know when either SPX or/and DXY is getting stronger or weaker to help with profit-taking of gold positions.
As per any Oscillator - look for patterns, cross-overs and momentum shifts. (Treat like a MACD, RSI or Stochastic).
Nota Keluaran
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This version now includes Bitcoin. Light Orange - all else is the same. "How to use" - use only to highlight confluence and divergence between DXY and the other major instruments.
Nota Keluaran
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Newer Version again - With labels (can be switched off) the ability to change each instrument from quote1, quote2 & quote3.
Would it be possible to add oil to this? Or alternately just the ability to change the existing tickers to any ticker one wants to use and not just the tickers in the current list of choices?
Mayfair_Ventures
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@GmanVet77, I'd have to look to be honest as this one was a while ago. The idea initially was just looking at Dollar n Gold along with SPX as their core for the type of trading I do. Bitcoin was added fun.
GmanVet77
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@Mayfair_Ventures, Really appreciate the comment and thanks for checking into it! Been enjoying your streams a lot btw.
OVER-THE-COUNTER
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Thank you really much, really useful for not having to compare in bigger scales or to switch into several charts, I was just figuring out myself how to do it but well you did it much more good!!
MMBTtrader
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nice one thanks for that
Mayfair_Ventures
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@MMBTtrader, No problem. Still playing around with the idea. Adding Bitcoin and seeing what the major instruments look like together.
jesusmarquezfx
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You could add the oscillation of the euro currency index to the indicator, the dollar is there, only the euro is missing. It would be a great help friend. blessings to you.
Mayfair_Ventures
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@jesusmarquezfx, Yes only had gold and dollar as it was the major factors for commodities, crypto and crypto. There could be oil and wheat. I have a currency one like this. But this is more the inverse rather than to currency.
@Mayfair_Ventures, brother, the indicator looks incredible on the graph, seriously thank you very much for your commitment to help and for your attention, a big greeting to you.