XAUUSD Strength Dashboard with Volume

The XAUUSD Strength Dashboard with Volume indicator provides a comprehensive multi-timeframe analysis for Gold (XAUUSD), combining market structure, trend confirmation, and volume analysis to evaluate market strength. By aggregating data across eight different timeframes, it offers a holistic view of the market's bias through a centralized dashboard and on-chart visual markers.

Usage

The Usage section focuses on how to interpret the dashboard data and the visual markers plotted on the chart.

Dashboard Interpretation

The dashboard displays a live breakdown of market conditions across multiple timeframes (1m to Weekly).

• Trend: Indicates the current bias based on SMA crossovers.
• BOS/CHOCH: Confirms if a Break of Structure or Change of Character has occurred.
• Volume: Shows a checkmark when a volume spike (relative to the average) is detected, confirming the validity of a move.
• Strength Score: A normalized value from 0-100%. Scores ≥75% suggest a "Strong Buy," while scores ≤25% indicate a "Strong Sell."

Visual Markers

The indicator plots several shapes on the chart to signal structural shifts:

• Triangles: Represent Bullish (Green) or Bearish (Red) Break of Structure (BOS).
• Circles: Represent Bullish (Green) or Bearish (Red) Change of Character (CHOCH).
• Arrows: Represent Trendline breaks based on SMA crossovers.
• Volume Labels: "Vol↑" (Lime) or "Vol↓" (Maroon) appear when a significant volume spike confirms a directional move.

Details

The script calculates the Strength Score by assigning point values to different technical conditions:

• Trend Direction (25 pts): Determined by the 9 SMA vs. 21 SMA.
• Break of Structure (20 pts): Based on new highs/lows with price momentum.
• Fair Value Gaps (10 pts): Identifies price imbalances.
• Change of Character (10 pts): Detects initial shifts in market structure.
• Trendline Break (20 pts): Confirmed by SMA crossovers.
• Volume Spike (15 pts): Calculated using a volume multiplier against the 20-period average volume.

Settings

General Settings

• Show Current TF Analysis: Toggles the display of the current chart's timeframe on the dashboard.
• Show Higher TFs Analysis: Enables/disables data rows for timeframes higher than the current one.
• Show Lower TFs Analysis: Enables/disables data rows for timeframes lower than the current one.
• Volume Spike Multiplier: Determines the sensitivity for volume confirmation (Default is 1.5x the average volume).

FAQ

How do I access the XAUUSD Strength Dashboard with Volume?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.

What assets does this indicator work best on?

While designed specifically for XAUUSD (Gold), the logic can be applied to other major forex pairs or commodities that exhibit clear market structure and volume trends.

Can I use this for scalping?

Yes, by enabling the "Show Lower TFs Analysis" setting, you can use the 1m, 5m, and 15m data to find high-probability entry points aligned with the higher timeframe trend.