Predicts change of USD/RUB rate according to UKOIL price change
Works only in 1m timescale.
Typically, predicts movements in 1-10 min advance.
The idea is that there is a significant correlation between RUB and OIL (appr. 0,95).
But, sometimes a significant delay in USD/RUB response to UKOIL change happens.
The index allows to keep track on such delays and predict upcoming USD/RUB movement.
Trade with care!
How to use it:
- Plot it over USDRUB_TOM graph.
- Align in line with recent price.
- Wait for divergence.
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.
study("RUB/OIL div.") PC = ((close- open)/close) PC_oil = security ("ukoil", "1", ((open-close)/close)) ROD = (nz(ROD) + PC_oil - PC) plot(ROD, color=blue, style=line)