XLE/GLD Rotation Gauge
Energy capitulating while gold gets bid: a slow cross-asset stretch that tends to snap back.
Own pane · Daily · Any chart; data comes from XLE and GLD
The XLE/GLD Rotation Gauge tracks energy against gold. Energy capitulating while gold gets bid is a specific cross-asset stretch: growth fear and safety demand at the same time. It builds slowly over weeks and tends to unwind sharply, which is what makes the extreme worth marking.
What it shows
- One line: the XLE/GLD ratio as a z-score over a rolling year.
- A stretch zone below minus one sigma, shaded.
- Markers when the gauge enters the zone, and a recovery alert when it crosses back through neutral.
How it reads the market
When energy equities capitulate while gold catches the refuge bid, the cross-asset rotation is stretched in a way that historically mean reverts over months, not days. This is a slow gauge: it fires rarely and resolves slowly, which is exactly what makes it worth a pane.
Settings
| Setting | Default | What it does |
|---|---|---|
| Symbols | XLE / GLD | Designed for this pair; the gauge is calibrated to it. |
| Z-score window | 252 bars | The rolling history behind the score. |
| Stretch threshold | -1.0 | Where the shaded zone starts. |
Everything is an input: colors, thresholds and time windows adjust from the indicator's settings panel, no code needed.
Built-in alerts
- Entered the stretch zone
- Recovered through neutral
Set them once from TradingView's alert dialog and get notified on your phone, no chart-watching required.
Comes with the membership
The whole indicator suite is included with the paid plan, $20/month or $200/year. Subscribe, submit your TradingView username, and the scripts land in your TradingView library.
Get full accessHow to add it to your chart
- Request access above with your TradingView username (one request covers the whole suite).
- We grant it on TradingView, usually within 24 hours; TradingView notifies you.
- On your chart, open Indicators → Invite-only scripts and add XLE/GLD Rotation Gauge.
When to use it, and when not to
It earns its place when
- You trade sector rotation and want a cross-asset read rather than a single-sector one.
- You are looking for slow setups that build over weeks and resolve fast.
- You want confirmation that a growth scare is being priced across asset classes, not just in equities.
Leave it off the chart when
- There is a supply shock in oil. The ratio moves for reasons that have nothing to do with rotation.
- You need a signal this week. This is a multi-week measure by construction.
- Gold is moving on currency debasement rather than fear. Same ratio, entirely different meaning.
Common questions
Why energy against gold specifically?
They sit at opposite ends of the growth-versus-safety axis. Energy demand tracks the real economy. Gold gets bid when investors want out of it. The ratio between them is a cleaner read on that fear than either alone.
What does an extreme reading mean?
That the market has priced a lot of growth fear and a lot of safety demand at once. Historically those stretches unwind, and they unwind fast because both legs reverse together.
How long do these setups take?
Weeks to build, days to unwind. That asymmetry is the reason to watch it: you get plenty of warning that the stretch is developing and very little time to act when it snaps.
What breaks the signal?
Anything that moves either leg for its own reasons. An OPEC decision, a geopolitical supply shock, or a gold move driven by currency rather than fear. When one leg has its own story, the ratio stops describing rotation.
Related reading
A slow, rare gauge by design; weeks can pass without a reading.