OPEN-SOURCE SCRIPT
Oil Price Prediction (Highly Accurate)
It's a little-known fact that gold prices move preceded oil prices by 20 months.
If you don't believe me here is a short video from Tom McClellan discussing this [url=cnbc.com/video/2023/06/09/heres-why-gold-is-a-leading-indicator-for-oil-the-mcclellan-market-reports-editor.html ]cnbc.com/video/2023/06/09/heres-why-gold-is-a-leading-indicator-for-oil-the-mcclellan-market-reports-editor.html
This gives us one of the best and highly accurate indicators of what oil will do in the months to come.
HOW TO USE.
When adding the script to your charts it's important to make a couple of adjustments.
What you'll be left with is a price projection on where oil prices will go. This becomes your 30,000-foot view. It is important for traders to know if they're coming into a bullish, bearish or consolidating market and this indicator does that.
Its important to mention this is for Monthly charts.
Happy Trading
If you don't believe me here is a short video from Tom McClellan discussing this [url=cnbc.com/video/2023/06/09/heres-why-gold-is-a-leading-indicator-for-oil-the-mcclellan-market-reports-editor.html ]cnbc.com/video/2023/06/09/heres-why-gold-is-a-leading-indicator-for-oil-the-mcclellan-market-reports-editor.html
This gives us one of the best and highly accurate indicators of what oil will do in the months to come.
HOW TO USE.
When adding the script to your charts it's important to make a couple of adjustments.
- Click the triple dots (...), scroll down to pin to scale, and click pin to new scale.
- Rght-click the new scale and click auto (fits data to screen)
- Go into the indicator settings and turn off the red line.
What you'll be left with is a price projection on where oil prices will go. This becomes your 30,000-foot view. It is important for traders to know if they're coming into a bullish, bearish or consolidating market and this indicator does that.
Its important to mention this is for Monthly charts.
Happy Trading
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.