Gold Opening-Range Breakout with Volatility and Volume Filters

Summary

This gold strategy builds an opening range during the 13:00–14:00 UTC hour on weekdays, then looks for a long breakout during a later entry window. A signal requires price to cross above the range high, a bullish bar, elevated volume, and volatility conditions that pass two filters based on ATR and the opening-range size. It permits one entry signal per day, sizes the position from a stated account risk percentage relative to the range, and sets a stop and target one range unit from entry. Any open position is closed at the specified session end.

The script includes claimed training and validation trade counts, win rates, profit factors, and risk-based return and drawdown figures, plus a comparison stating that short trades and other reward-to-risk settings performed worse in those tests. These are source-reported results, not independently verified evidence. The validation period ends after the stated current date, and results may depend on instrument, bar settings, costs, and execution assumptions; the document also describes a long-only approach despite mentioning shorts tested.

Key ideas

• The method defines an hourly opening range in UTC and trades upward breakouts during a later window.
• A breakout requires price confirmation, a bullish candle, higher-than-average volume, and ATR-based filters.
• Position size is based on account risk and opening-range width, with stop and target distances tied to that range.
• The script allows one entry signal per weekday and closes remaining exposure at the session end.
• Reported training and validation statistics are claims in the source and are not independently verified.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.