DXY-XAUUSD Correlation with Thresholds

Indicator Description: "DXY-XAUUSD Correlation with Thresholds"
This indicator tracks the dynamic correlation between the US Dollar Index (DXY) and gold prices (XAUUSD) over a user-defined period, expressed as a percentage. It calculates the rolling correlation coefficient between the closing prices of these two assets, scaled to ±100%, and visualizes it as a histogram.

Key Features:

Adjustable correlation period (default: 30 bars) and configurable positive/negative thresholds (default: ±70%).

Color-coded histogram: Intense green/red highlights correlations exceeding thresholds, signaling strong positive/negative relationships.

Horizontal dotted lines mark threshold levels, aiding in identifying overextended "overbought" or "oversold" correlation conditions.

An info table displays the current correlation value and active thresholds for quick reference.

Designed for traders analyzing the inverse relationship between the dollar and gold, this tool helps spot periods of extreme correlation divergence or convergence. The visual alerts and customizable parameters make it adaptable to various trading strategies and timeframes.

Note: The indicator is plotted in a separate pane (non-overlay) for clarity.