London Session Range Reversal with Pending Breakout Orders

Summary

This MetaTrader expert advisor describes a GBPUSD strategy built around the Frankfurt-to-London opening range. It looks for an initial move below the range and the open by at least a configurable threshold, followed by a reversal to the range high. The system then places a buy stop above that high, with stop loss and take profit set when the order is created. The description frames the setup as a response to the possibility that the first London-session move may reverse.

The range is calculated over user-defined start and end times and can be drawn as a chart rectangle. Pending orders are allowed only during a configured time window and are removed if they remain unfilled after it ends. The document gives rules for the buying side and mentions both buy-stop and sell-stop orders, but does not explain the sell setup in comparable detail. It provides no performance results, risk parameters, or evidence that the strategy is profitable; the London-session rationale is presented as an idea rather than tested support.

Key ideas

• The strategy defines a price range between configurable Frankfurt and London session times.
• It waits for a sufficiently deep move below the open and range, followed by a reversal toward the range high.
• A buy stop is placed above the range high, with stop loss and take profit specified at order placement.
• Unfilled pending orders are removed after the configured order-placement window ends.
• The description gives no backtest evidence and does not fully specify the sell-side rules.

Tags

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