Gold Price Trend Overlay — Indicator by tux

Gold Forex

gold forex

This chart overlay provides the daily 9 SMA of Gold.
If the price of GOLD is ABOVE the 9 SMA then the line will be GOLD
If the price of GOLD is BELOW the 9 SMA then the line will be RED

A good way to use this overlay is by understanding how Gold effects currency pairs.

if GOLD is BULLISH - then AUD/USD is BULLISH
if GOLD is BULLISH - then NZD/USD is BULLISH
if GOLD is BULLISH - then EUR/USD is BULLISH

if GOLD is BULLISH - then USD is bearish
if GOLD is BULLISH - then USD/CHF is BEARISH
if GOLD is BULLISH - then USD/CAD is BEARISH

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Want to use this script on a chart?

study(title="TUX GOLD", shorttitle="TUX GOLD", overlay=true)
len = input(9, minval=1, title="Length")
src = input(close, title="Source")
out = sma(src, len)

gold = security("INDEX:XAU", "D", sma(close,len))  
goldc = iff(security("INDEX:XAU", "D", sma(close,len)) > security("INDEX:XAU", "D", close), red, orange)

plot(gold,linewidth=2, title="GOLD 1 DAY", color=goldc)