ALTIN-GUMUS

English Description
Overview This indicator is designed for investors trading Gold and Silver instruments on Borsa Istanbul (BIST). It calculates the real-time "Fair Value" (Theoretical Price) of popular Gold Certificates and ETFs (Exchange Traded Funds) and compares them with their current market price to reveal whether they are trading at a Premium (Overvalued) or Discount (Undervalued).

Additionally, it displays the current Withholding Tax (Stopaj) rates applicable to these instruments, updated according to the latest regulations (July 2025).

How It Works (Calculation Logic)

Spot Gram Calculation: The script first calculates the real-time Spot Gram Gold and Silver prices in Turkish Lira (TRY) using global spot rates and the USD/TRY exchange rate:

Gram Gold (TRY) = (XAUUSD * USDTRY) / 31.1035

Gram Silver (TRY) = (XAGUSD * USDTRY) / 31.1035

Theoretical Price (Fair Value): This value is multiplied by the specific coefficient (amount of precious metal per share) for each instrument.

Example: For ALTINS1 (Mint Certificate), the multiplier is fixed at 0.01 (1 share = 0.01g).

Example: For ETFs like ZGOLD or GMSTRF, the multiplier represents the gold/silver amount per share (net of management fees).

Premium / Discount (%): The indicator compares the BIST Market Price with the calculated Theoretical Price.

Premium % = (Market Price - Theoretical Price) / Theoretical Price * 100

Red Cell: The instrument is trading at a premium (Expensive).

Green Cell: The instrument is trading at a discount (Cheap/Arbitrage Opportunity).

Features

Real-Time Dashboard: Monitors ALTINS1, ZGOLD, GLDTRF, ISGLKF, and GMSTRF.