0xTheChartist

24K Gold Oscillator

https://in.tradingview.com/script/ryMJL0n8-24K-GOLD-Oscillator-Code2trade/

The most accurate reversal indicator using divergence/convergence combined with parallel channels. Work best on M15 XAU

Eliminate subjective thinking and emotions in trading. This indicator is designed to define consistent entry/exit criteria. It limits the number of trades per day, reducing screen time while ensuring steady profits.

Liquidity sweeps can be replicated through divergence/convergence.
The divergence and convergence of traditional average-based indicators are often ineffective. This indicator identifies the peaks and troughs of large waves within parallel channels, offering higher precision.

1. The Winning Mindset in Trading

1.1 Don’t Trust the Carnival: Fake Numbers, Fake Faces

  • Profits and trade records are often tools of persuasion in marketing campaigns run by brokers or trading platforms. These “Fx Dealers” craft a narrative where winning seems easy:

    • Fake numbers: Marketing accounts can easily simulate profits.
    • Compelling personas: Salespeople are trained to trade their reputations for the allure of profit.
    • Deceptive concepts: A well-packaged idea can appear trustworthy, but it’s just smoke and mirrors.

    Never trust what you see without peeling back the layers of the story.

1.2 Concepts Wrapped in Glitter: Let the Numbers Speak

Think of overly complex trading concepts as a beautifully wrapped gift. But when you open it, the substance is missing. Let’s take Wyckoff, for instance:

  • It outlines five phases, but where are the statistics?
  • What percentage of trades complete all five phases before prices move?
  • How often does price run with or without missing phases?
  • What are the probabilities tied to different market conditions, instruments, or timeframes?

Without data, concepts are hollow. If you’re learning architecture, pick a book with rich illustrations. If you’re learning trading, prioritize sources rich in statistics. Otherwise, discard the noise or gather the data yourself.

1.3 Garbage In, Garbage Out: Precision Is Key

Trading is a machine, and like any machine, its output is only as good as its input. Every component must be optimized. Take the Fair Value Gap (FVG) as an example:

  • Is FVG best for reversals or trend-following?
  • Is it optimal when price touches the top, bottom, or middle of the gap?
  • Does FVG perform better with liquidity sweeps, support/resistance levels, or volume metrics?

The answers lie in numbers—meticulous data analysis, not guesswork. Only once the FVG itself is optimized can you move to refining entries, stop losses, and execution strategies.

Don’t blindly automate a half-baked concept. Break it down into components, optimize each, and let statistics guide the way.

1.4 Backtest and Experience: The Real Teachers

Finally, nothing beats personal experience. Backtesting and real trading provide insights tailored to your unique risk tolerance, emotional resilience, and capital management skills.

  • If you struggle with emotions, choose low-frequency trading methods that require minimal chart time.
  • If you’re a full-time trader with good emotional control, dive into more complex systems that maximize efficiency.

2. Trading with the “24K” Indicator

Key Components:

  • Reversal Points and Divergence
  • Manual Plotting: Identify reversal zones and set take-profit levels

Let’s go over some backtesting results on XAU/USD (gold) using the 15-minute chart:

Results
Manual Backtesting (January–April):

Wins: 35
Losses: 28
Risk-Reward: +126 / -28
Losing Streak: 5

Real trades:

https://in.tradingview.com/chart/XAUUSD/OXprkFpY-24K-Indicator-Real-Trades-Dec-2024/ 

Manual Backtesting Link:

https://in.tradingview.com/chart/XAUUSD/CIZ1V1Tr-Liquidity-Swept-and-Divergence-backtest-2024/

https://in.tradingview.com/chart/XAUUSD/oKQC0Att-24K-GOLD-OSCILLATOR-BACKTEST-MAR-2024/

https://in.tradingview.com/chart/XAUUSD/kGzCT46x-24K-Gold-Oscillator-Backtest-Feb-2024/

https://in.tradingview.com/chart/XAUUSD/6xahpsAe-24K-GOLD-OSCILLATOR-BACKTEST-JAN-2024/

Automated Backtest: 30k $ Profit, Max Drawdown 6k$, winrate 47% (automates 1/4 of entry cases)

https://in.tradingview.com/script/5gzGPCCm-24K-GOLD-Strategy-Code2trade/

Trading Rules

  • Draw support/resistance lines.
  • Avoid cutting through too many candles.
  • Draw trendlines to determine the trend.
  • Check for divergence and look for confluence.
  • Divergence in one wave or multiple waves.
  • Enter when a reversal triangle appears in the oscillator.
  • Place the stop-loss at the oscillator wave’s pivot.
  • Take profit:
  • Exit when the oscillator crosses 0 and reverses direction.
  • Alternatively, exit at key support or resistance levels.

XAU M15:

1. Reverse Filtered:

Timeframe: M15

SL Max: 7.9
SL Min: 5.3
Barback: 3
Noise Filter: 20

Reverse Only: ✔
Reverse and Divergence: ✘
RemoveTroughPeakFilter: ✘

2. Reverse Unfiltered:

Timeframe: M15

SL Max: 7.9
SL Min: 5.3
Barback: 3
Noise Filter: 20

Reverse Only: ✔
Reverse and Divergence: ✘
RemoveTroughPeakFilter: ✔

3. Reverse Divergence Filtered:

Timeframe: M15

SL Max: 999999
SL Min: 0
Barback: 3
Noise Filter: 23

Reverse Only: ✘
Reverse and Divergence: ✔
RemoveTroughPeakFilter: ✘

4. Reverse Divergence Unfiltered:

Timeframe: M15

SL Max: 999999
SL Min: 0
Barback: 3
Noise Filter: 20

Reverse Only: ✘
Reverse and Divergence: ✔
RemoveTroughPeakFilter: ✔

BTC/BTCUSDT M15:

BTCUSD Binance
BTCUSDT.P Perpetual Contract

1. Reverse Only:
Timeframe: M15

SL Max: 1400
SL Min: 360
Barback: 3
Noise Filter: 20

Reverse Only: ✔
Reverse and Divergence: ✘
RemoveTroughPeakFilter: ✘

2. Reverse Divergence:
Timeframe: M15

SL Max: 99999
SL Min: 0
Barback: 3
Noise Filter: 20

Reverse Only: ✘
Reverse and Divergence: ✔
RemoveTroughPeakFilter: ✘

WTI USOIL FUTURE FXCM

1. Reverse Filtered:

Timeframe: M15

SL Max: 999999
SL Min: 0
Barback: 3
Noise Filter: 24

Reverse Only: ✔
Reverse and Divergence: ✘
RemoveTroughPeakFilter: ✘

2. Reverse Unfiltered:

Timeframe: M15

SL Max: 999999
SL Min: 0
Barback: 3
Noise Filter: 24

Reverse Only: ✔
Reverse and Divergence: ✘
RemoveTroughPeakFilter: ✔

3. Reverse Divergence Unfiltered:

Timeframe: M15

SL Max: 999999
SL Min: 0
Barback: 3
Noise Filter: 24

Reverse Only: ✘
Reverse and Divergence: ✔
RemoveTroughPeakFilter: ✔

———————–

Indicator Rental Price:
$100/month

$500 Lifetime
Indicator Code Purchase Price:
$2000

Free 24-hour Trial:

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