Gold Share Converter Levels

🟡 Gold Share Converter Levels – Map GLD/ETF Prices to Spot & Futures

Gold Share Converter Levels is a utility tool for traders who follow gold shares / ETFs (like GLD) but trade on XAUUSD spot or gold futures.

It converts your share or ETF prices (for example GLD option strikes, gap levels, or key closes) into equivalent XAUUSD or gold futures prices and plots them as horizontal lines on your gold chart. Each level has its own color and label so you can clearly see where a given share price sits in the spot or futures market.

This is useful if you:

Watch GLD options, gamma levels, or ETF orderflow,

But execute trades on XAUUSD or GC futures,

And want a clean way to see “GLD 390”, “GLD 400”, etc. directly on your gold chart.

🔍 How the conversion works (concept)

The script first calculates a conversion ratio between your share/ETF and the gold market you’re looking at:

In Spot mode (XAUUSD):

Ratio = XAUUSD price ÷ Share price

In Futures mode (Gold futures):

Ratio = Gold futures price ÷ Share price

It then takes each share price you enter (for example 380, 385, 390, 400) and multiplies it by that ratio to get the corresponding gold price.
Result:
Share 390 → Spot 4230.01 (example)

You can choose between two behaviors:

Dynamic mode

Uses live 5-minute prices for the share, XAUUSD, and futures.

The ratio updates as the relationship between GLD and gold changes, so the converted levels move with the market (useful intraday when ETF/spot/futures drift).

Static mode

You type in a fixed ratio (for example, 10.87 if XAUUSD is roughly 10.87 × GLD).

All levels are calculated with that constant ratio.

This is helpful if you want timeframe-independent levels (e.g., higher-TF analysis, screenshots, or backtests) without the ratio changing on every bar.

If data for the share symbol isn’t available, or if the ratio can’t be computed, the script shows a clear warning instead of plotting misleading lines.

⚙️ What the indicator does on the chart

When applied to an XAUUSD or gold futures chart, the indicator:

Converts up to 10 share/ETF prices into equivalent spot or futures levels.

Draws a horizontal line at each converted level, with:

user-selected color,

configurable width and line style (solid/dashed/dotted),

extension across the whole chart.

Optionally adds a label on each line showing both values, e.g.:
S: 390 → Spot: 4230.01 or S: 390 → Fut: 4315.50.

Updates lines only on the last bar to keep the chart clean and efficient.

Shows warnings when:

the chart is not XAUUSD or gold futures,

or when the share symbol data is missing,

or when Static mode is selected but no valid ratio is entered.

The script does not generate trade signals. It’s a mapping/visualization tool that links your ETF/share analysis to the gold market you actually trade.

🛠 Inputs (what you can customize)

Conversion Mode

Spot (XAUUSD) – convert share prices to XAUUSD levels.

Futures (Gold Futures) – convert share prices to gold futures levels.

Share Symbol

The ETF or share you are tracking (default GLD).

You can change this to another gold-related ETF if you wish.

Gold Futures Symbol

Futures contract used in Futures mode (default GC1!).

Line Mode

Dynamic – uses live prices to compute the ratio.

Static – uses your manual ratio for stable, timeframe-independent levels.

Static Spot Ratio

Manual conversion ratio used only in Static mode (e.g. 10.87).

If 0 or not set, the script warns you instead of plotting.

Share Price 1–10 + Color 1–10

Up to 10 share/ETF prices you want to project into gold.

Each level has its own color so you can group or tag different strikes/zones.

Show Labels, Label Position, Label Size

Turn labels on/off and choose where they appear (far left, center, far right) and how large they are.

Line Width & Line Style

Global styling for all converted levels.

📈 How to use it in practice

Example – Using GLD strikes to trade XAUUSD

On your options/ETF platform, identify important GLD levels:

e.g. large open interest or gamma at GLD 380, 385, 390, 400.

In the indicator settings:

Set Share Symbol to GLD.

Choose Spot (XAUUSD) mode.

Use Dynamic mode if you want the mapping to follow the live GLD/XAUUSD relationship, or Static mode with a fixed ratio if you prefer stable lines.

Enter 380, 385, 390, 400 into the share price inputs and assign colors (for example, red for call walls, green for put walls).

On your XAUUSD chart, you’ll now see horizontal lines at the equivalent spot prices for those GLD levels.

You can use them as support/resistance, target zones, or areas where you expect stronger reactions because ETF/option flow is concentrated there.

Example – Mapping GLD levels to gold futures

Switch Conversion Mode to Futures (Gold Futures) and select your preferred GC contract.

The script will then project GLD prices onto the gold futures chart instead of spot.