This is a Method to follow Currency pair and pricing divergence of a Commodity to a Base Currency
This demonstrative example is from from Gold in various currencies to Turkish Lira ₺
You can recreate this for your own purpose by following the same formulas.
Because that symbol does not exist we have to divide pairs that have a common denominator.
We will use XAUUSD (which is Gold/US Dollar) and divide it by TRYUSD (which is Lira/US Dollar)
When dividing fractions you invert the denominator and multiply.
So (XAUUSD)/(TRYUSD) = (XAUUSD)*(USDTRY)
*Note: It is important to notice that these two values produce different results in the graph, by pulling data from two different feeds.
In this Chart
XAUUSD/TRYUSD
USDTRY/XAUUSD
(RED)
Another exemplary pair is XAUCAD. It's Currency pair is TRYCAD.
So the Formula is simply
XAUCAD/TRYCAD
Also in this chart
XAUEUR/TRYEUR
XAUGBP/TRYGBP
XAUJPY/TRYJPY
XAUXCU/TRYXCU
XAUZAR/TRYZAR
(PURPLE)
Sometimes both sides of currency pairs aren't available on TradingView.
We have XAUNZD available, but we only have NZDTRY available.
To solve this we use the formula
XAUNZD/(1/NZDTRY)
Dividing by a fraction with a 1/fraction as a denominator provides us with the inverse symbol of TRYNZD
Also in this chart
XAUAUD/(1/AUDTRY)
(BLUE)
In more extreme cases, there is no currency pair available at all.
In this situation, we have to create a pairing.
There is no CNY to TRY or inverse symbol but there is XAUCNY
So, we convert the XAUCNY value to a value that has a pair.
For this example we will go back to the US Dollar before converting it to the Base Currency.
(XAUCNY/(1/CNYUSD))/TRYUSD
Also in this chart
(XAUINR/(1/INRUSD))/TRYUSD
(XAUNPR/(1/NPRUSD))/TRYUSD
(GREEN)
Forumulas with equal value are also included
XAUUSD/(1/USDTRY)
USDTRY/(1/XAUUSD)
XAUUSD*USDTRY
USDTRY*XAUUSD
This demonstrative example is from from Gold in various currencies to Turkish Lira ₺
You can recreate this for your own purpose by following the same formulas.
Because that symbol does not exist we have to divide pairs that have a common denominator.
We will use XAUUSD (which is Gold/US Dollar) and divide it by TRYUSD (which is Lira/US Dollar)
When dividing fractions you invert the denominator and multiply.
So (XAUUSD)/(TRYUSD) = (XAUUSD)*(USDTRY)
*Note: It is important to notice that these two values produce different results in the graph, by pulling data from two different feeds.
In this Chart
XAUUSD/TRYUSD
USDTRY/XAUUSD
(RED)
Another exemplary pair is XAUCAD. It's Currency pair is TRYCAD.
So the Formula is simply
XAUCAD/TRYCAD
Also in this chart
XAUEUR/TRYEUR
XAUGBP/TRYGBP
XAUJPY/TRYJPY
XAUXCU/TRYXCU
XAUZAR/TRYZAR
(PURPLE)
Sometimes both sides of currency pairs aren't available on TradingView.
We have XAUNZD available, but we only have NZDTRY available.
To solve this we use the formula
XAUNZD/(1/NZDTRY)
Dividing by a fraction with a 1/fraction as a denominator provides us with the inverse symbol of TRYNZD
Also in this chart
XAUAUD/(1/AUDTRY)
(BLUE)
In more extreme cases, there is no currency pair available at all.
In this situation, we have to create a pairing.
There is no CNY to TRY or inverse symbol but there is XAUCNY
So, we convert the XAUCNY value to a value that has a pair.
For this example we will go back to the US Dollar before converting it to the Base Currency.
(XAUCNY/(1/CNYUSD))/TRYUSD
Also in this chart
(XAUINR/(1/INRUSD))/TRYUSD
(XAUNPR/(1/NPRUSD))/TRYUSD
(GREEN)
Forumulas with equal value are also included
XAUUSD/(1/USDTRY)
USDTRY/(1/XAUUSD)
XAUUSD*USDTRY
USDTRY*XAUUSD