Long-Only Gold Opening-Range Breakout with Volume and Volatility Filters

Summary

This Gold strategy builds an opening range from highs and lows during the 13:00–14:00 UTC hour, then looks for a long breakout during a later entry window. A qualifying signal requires a close above the range high, a bullish bar, volume above its recent average by a set multiplier, an opening range no larger than a multiple of ATR, and ATR below a threshold relative to its own recent average. It sizes the position from a selected account risk percentage and places a stop and target each one opening-range width from the entry; any open position is closed at the session cutoff.

The source comments report separate training and validation trade counts, win rates, profit factors, and drawdown estimates, and claim that a one-to-one reward-to-risk setting performed better than larger targets. These are author-reported backtest figures, not independently verified evidence. The accompanying prose describes a two-direction setup with a later cutoff and wider range filter, while the code shown is long-only and uses different settings. Treat the implementation and performance claims cautiously, and verify instrument, timeframe, session, costs, and execution assumptions before drawing conclusions.

Key ideas

• The strategy defines an opening range from Gold price action during a specified UTC hour.
• Long entries require a range breakout plus volume, candle-direction, range-size, and volatility conditions.
• Position quantity is calculated from account equity, a chosen risk percentage, and the opening-range width.
• The script sets a range-width stop and target and closes remaining positions at its session cutoff.
• Reported backtest statistics are author claims, and the accompanying description conflicts with the code on direction and timing.

Tags

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