XAUUSD/SPX Slope Indicator

The XAUUSD/SPX Slope Indicator for TradingView calculates the slope of the XAUUSD (Gold) to SPX (S&P 500) ratio using linear regression over a customizable lookback period (default 20 bars). It plots the slope to show whether Gold is outperforming or underperforming the S&P 500, with a positive slope indicating Gold's strength and a negative slope favoring stocks. A zero line and color-coded background (green for positive, red for negative) enhance readability, making it a useful tool for analyzing relative market trends. Ensure your platform supports XAUUSD and SPX symbols.