The GoldHeart Indicator was developed using the GOLD-EAGLE Gold Fund Index (GEGFI). It shows when gold equities are in "oversold" or "overbought" conditions. An oversold condition presents a timely opportunity to add to share positions, while an overbought condition presents the opportunity to take profits on trading positions.
Overbought conditions, or sell signals, occur when the indicator approaches 20 or below on the indicator chart. While oversold conditions, or buy signals, occur when the indicator approaches 80 or above. These regions demonstrate good correlation to future turning points in the gold equities market.
Ideally, buy and sell zones should be used to begin dollar cost averaging in and out of positions. Examination of past GEGFI correlation with the GoldHeart Indicator demonstrate reasonably reliable price reversal areas. Consequently, the indicator should help investors to make more prudent and timely buys and sells.
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