OPEN-SOURCE SCRIPT
Synergy
Synergy
This indicator was developed for use in an investigation/tutorial using Pine Script to analyse Gold and US Dollar Index correlation.
The first indicator shall measure the percentage change between the open and close of each bar and compare it to the same percentage change of an alternative asset. Additionally, we shall color the background when the two assets move in the same direction. This should allow us to more easily see when the two assets move together and spot trends in their moment.
The yellow bars show use the percentage change in the price of gold. The blue bars show the percentage change in the price of the US Dollar index. If the bar is above zero, it means that the asset closed up. Conversely, if it is below zero, it means the asset closed down. Finally, the grey bars show bars in which the two assets closed in the same direction.
It can be used in conjunction with a second indicator (to be published soon) that provides statistics generated from this indicator.
The full free post can be found here: https://backtest-rookies.com/2018/12/21/gold-correlation-strategies-change-indicator-and-analysis/
This indicator was developed for use in an investigation/tutorial using Pine Script to analyse Gold and US Dollar Index correlation.
The first indicator shall measure the percentage change between the open and close of each bar and compare it to the same percentage change of an alternative asset. Additionally, we shall color the background when the two assets move in the same direction. This should allow us to more easily see when the two assets move together and spot trends in their moment.
The yellow bars show use the percentage change in the price of gold. The blue bars show the percentage change in the price of the US Dollar index. If the bar is above zero, it means that the asset closed up. Conversely, if it is below zero, it means the asset closed down. Finally, the grey bars show bars in which the two assets closed in the same direction.
It can be used in conjunction with a second indicator (to be published soon) that provides statistics generated from this indicator.
The full free post can be found here: https://backtest-rookies.com/2018/12/21/gold-correlation-strategies-change-indicator-and-analysis/
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.