PROTECTED SOURCE SCRIPT
Updated QTF GOLD INDEX)
Gold Strength Index (XAU Composite) is a custom indicator that measures the relative strength of gold against a basket of major global currencies, similar to how the DXY index tracks the US dollar.
It combines gold performance against USD, JPY, AUD, GBP, CAD, and XAG (silver), calculating a normalized average to visualize gold’s global momentum.
When the index rises, gold is gaining strength across currencies; when it falls, gold is weakening globally. The 50-period SMA highlights the medium-term trend.
Use it to compare gold’s broad strength versus DXY, spot divergences with silver, or analyze macro correlations across the FX and commodity markets.
Designed for traders who want to see the real global power of gold beyond just XAUUSD.
Release Notes
Gold Strength Index (XAU Composite) is a custom indicator that measures the relative strength of gold against a basket of major global currencies, similar to how the DXY index tracks the US dollar.It combines gold performance against USD, JPY, AUD, GBP, CAD, and XAG (silver), calculating a normalized average to visualize gold’s global momentum.
When the index rises, gold is gaining strength across currencies; when it falls, gold is weakening globally. The 50-period SMA highlights the medium-term trend.
Use it to compare gold’s broad strength versus DXY, spot divergences with silver, or analyze macro correlations across the FX and commodity markets.
Designed for traders who want to see the real global power of gold beyond just XAUUSD.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – learn more here.
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.