Swing Elite Valuation Tool

Swing Elite Macro Valuation
This indicator provides intermarket valuation analysis by measuring how an asset is priced relative to key macroeconomic instruments. Rather than analyzing price in isolation, it contextualizes current levels against bonds, the dollar, and gold — the three pillars of macro market structure.
The Concept Behind Macro Valuation
Assets don't move in a vacuum. Equities, commodities, and currencies maintain dynamic relationships with macro instruments. When the S&P 500 rises while bonds (ZB1) also rally, that's a different signal than when stocks rise while bonds sell off. Similarly, an asset's relationship to the dollar index (DXY) and gold (GC1) reveals whether price moves reflect genuine strength or simply dollar weakness.
This indicator quantifies these relationships by normalizing relative performance into a 0-100 scale, making it easy to identify when an asset is historically overvalued or undervalued relative to macro conditions.
How Valuation Is Calculated
The indicator computes a ratio between the charted asset and each comparison instrument, then normalizes this ratio as a percentage move from a historical baseline. Two modes are available: Short-term mode captures recent sentiment shifts and is useful for tactical positioning, while Long-term mode evaluates deeper macro positioning for swing trades and portfolio decisions.
The normalized reading places current valuation within historical context. A reading near 88+ suggests the asset is overvalued relative to that macro instrument — price has extended beyond typical ranges. Readings below 10 indicate undervaluation, where the asset may be oversold relative to macro conditions.
Dynamic vs Manual Thresholds
Users can select between manual threshold levels or automatic dynamic bands. Auto-levels calculate overvalued and undervalued zones using standard deviation from the mean, adapting to each asset's historical volatility. Manual mode allows fixed thresholds for traders who prefer consistent reference points across different instruments.
Multi-Instrument Flexibility
While defaults include ZB1 (30-year Treasury futures), DXY (dollar index), and GC1 (gold futures), any symbol can be substituted. This allows analysis against silver, currency futures, sector ETFs, or any instrument relevant to your trading thesis. Each comparison instrument displays independently with color-coded status: readings in overvalued territory appear red, undervalued zones show green, and neutral conditions display blue.
Practical Application
This tool serves traders who incorporate intermarket analysis into their decision-making. When an asset shows overvalued readings against multiple macro instruments simultaneously, it suggests price has extended relative to the broader macro environment — a potential mean reversion setup. Conversely, undervaluation across multiple macro comparisons can highlight value opportunities where price hasn't kept pace with supportive macro conditions.
The dashboard table provides at-a-glance status for each comparison, while alert conditions enable notifications when valuation crosses key thresholds.