Fxcorrelator_goldmeter

NVP

Legendary member
36,291 1,788
FXCORRELATOR - GOLDMETER

Gold is on the march again

here is one of my (simpler) approaches to Trading Gold....never published here before ....
so have it as a present as I think it will be very very useful as Gold fires up !

open up this indicator and lay it on the XAU/USD chart

whenever the Violet line gets above or below all the other lines - trade it !

I use 20ma as a default like my standard FXcorrelator and thats a 20 sma on the XAU gold chart itself....the 2 bold lines will always crossover where the chart crosses the 20 sma if you keep the same ma setting.....

Background

this is Gold priced relatively to the other currencies.......when it gets above them all then the market is deeming to be losing faith in paper money and moving away from Fiat currencies - and vice versa for the other direction traded

the Green line is the USD .....Ideally I would like to see the USD diverging and falling
as the Violet (Gold) line goes above all the lines re a signal ...and vice versa

research Gold to see why i like this as a strategy....simple relative strength applications to trading

thats it ......enjoy !
NVP
 

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NVP

Legendary member
36,291 1,788
big bucks on the Lower TF's recently !

buy buy buy .....although momentum fading a little now

N
 

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nlenz

Junior member
18 0
Thank you for this wonderful idea. However, my Gold chart shows both green and violet lines going exactly together rather than diverging in all timeframes.
Could you please check this out? My symbol for gold is GOLD.

Thank you.
 

nlenz

Junior member
18 0
Well, here is a slight modification of the indicator, which will work on any symbol of gold - just attach it to the chart.
As a plus, it detects the current symbol on the chart and will work with other instruments as well such as Silver, Bonds etc. :)

Noam
 

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NVP

Legendary member
36,291 1,788
hey Nlenz .............you dont know Gadi do you ?

gg53 ?

hes a greeeat trader I work with in Israel

N
 
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NVP

Legendary member
36,291 1,788
Game over on the 1hour as gold gets dragged below the grey lines

Nlenz's version of the indicator (bottom indicator) works just fine !

N
 

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nlenz

Junior member
18 0
hey Nlenz .............you dont know Gadi do you ?

gg53 ?

hes a greeeat trader I work with in Israel

N
Yes, he's a family member. I didn't know he trades though. Maybe he's a different Gadi. Interesting you know him :)
 

NVP

Legendary member
36,291 1,788
Yes, he's a family member. I didn't know he trades though. Maybe he's a different Gadi. Interesting you know him :)
My Gadi (gg53) is a trader....and a good one .....probably not the same person ;)
 

NVP

Legendary member
36,291 1,788
The principle sounds good,call some out:)
hey Flash........its a pretty simple strategy

if Gold is the Strongest /(weakest) in relative terms to the famous G8 in my FXcorrelator .........I look to trade it until that signal is cancelled

I need USD moving in opposite direction as well naturally as I am trading the XAU/USD

If I get time i'll call some but mainly I pull this back up the timeframes a little........so no fast calls...

anyone else is welcome to call some on Flashs thread - its a free system and plase people add comments here regarding anything to enhance it :smart:

the 20ma is a default like my FXCorrelator

N
 

NVP

Legendary member
36,291 1,788
heres the 15m TF today............

violet Ticks are where gold gets weakest or strongest vs the G8

The Green Ticks are where I consider USD to be moving in the opposite direction to gold and therefore optimum signal for XAU/USD chart shown

I am not going to get into exit strategies or any other details as its up to you guys ....

I am merely giving a free indicator that offers relatively decent signals

any TF ....and up to you what MA you use (or combos ?)

N
 

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NVP

Legendary member
36,291 1,788
heres the 4hour..........

A feast of trades ?

possibly........but beware ........nothing in trading is ever as simple or perfect as it looks ......backtesting like this always looks good and can be misleadingly impressive ....;)

its still pretty decent though as a start point if you wanted to customise it.....

and certainly now as I have a feeling gold is gonna get verrry interesting....:smart:

N
 

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