Golden Ratio
The script visualizes extreme values of the RSI of the "ticker of your choice" to Gold Ratio ( Ticker / XAUUSD ) and is highlighted as background colour in blue and red.
Standard Settings:
Blue means RSI >70
Red means RSI<30
RSI Length 14
Also the RSI of the selected ticker can be visualized if that is something you also want to be displayed. It will be quite common for both the RSI of ticker and the ratio to be at extremes at the same time but not always.
Best applied to Daily timeframe to avoid noise.
Can be used against GDXJ or Silver to get an overview when the ratio is reaching oversold or overbought. I like to wait after such zone is over and the decide if to enter or exit a trade.
No investment Advice
Standard Settings:
Blue means RSI >70
Red means RSI<30
RSI Length 14
Also the RSI of the selected ticker can be visualized if that is something you also want to be displayed. It will be quite common for both the RSI of ticker and the ratio to be at extremes at the same time but not always.
Best applied to Daily timeframe to avoid noise.
Can be used against GDXJ or Silver to get an overview when the ratio is reaching oversold or overbought. I like to wait after such zone is over and the decide if to enter or exit a trade.
No investment Advice