Sentiment Indicator

Sentiment Indicator

? Indicator logic (quick summary)

• Retail sentiment input:

  • You type in current retail long % from MyFxBook/FXSSI/etc.

  • If > 60% long → contrarian bearish

  • If < 40% long → contrarian bullish

  • Else → neutral

• Trend bias:

  • EMA(50) vs EMA(200) → primary trend

  • MACD(6,13,5) direction as confirmation

• Volatility bias:

  • ATR(14) vs ATR(50) → expansion ratio

  • Too low/too high volatility → “AVOID”

• Session bias:

  • Time-based classification (server time):

    • Asia, London, New York

  • Just a label + “quality factor” (London/NY more important)

• Composite bias:

  • Combines Trend + Retail Sentiment

  • Then checks Volatility; if volatility bad → bias = 0 (AVOID)

  • Outputs:

    • +1 → Long bias

    • -1 → Short bias

    • 0 → Stay flat / Avoid

? How to use it in practice

1. Attach to XAUUSD chart (any timeframe; works best M5–H1).

2. Before each session, update InpRetailLongPercent manually:

   • Get the % from MyFxBook / FXSSI / IG retail sentiment (XAUUSD / GOLD).

3. Read the Composite bias:

   • +1 → focus on long setups only

   • -1 → focus on short setups only

   • 0 → do not trade (bad volatility / off session / mixed sentiment)