Gold Opening Range Breakout Trading Strategy

Gold Opening Range Breakout Trading Strategy

$399.00

A fast and nimble trading strategy for Gold futures contracts (@GC) that buys intra-day break-outs and sells at the open of the next trading day for easy profits.

This is a professional trading strategy, ready for real-world automation or manual trading.

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Description

Harness the power of intra-day breakouts in Gold. This innovative trading strategy capitalizes on Gold's tendency to surge higher once a new intra-day high is breached.

By strategically placing buy orders at precise locations based on recent trading activity, this strategy captures major moves in the Gold market. As more traders enter the rally and others' stops are triggered, significant forces converge to propel the price of gold upward.

Operating within the intra-day timeframe, this strategy identifies optimal exit points at the opening of the subsequent day's session. This unique approach combines the agility of intra-day signals with the potential for overnight holds, maximizing profit potential.

The key to this strategy lies in buying into strength in commodities, a proven method for achieving substantial returns.

This strategy boasts adaptability to market volatility through a dynamic position sizing function, ensuring consistent performance even in turbulent market conditions.

Developed and rigorously tested in 2016 using sophisticated statistical techniques and tools, this strategy has demonstrated its ability to thrive in real-time deployment. Its track record speaks volumes, attesting to its reliability and enduring success.

Gold Opening Range Breakout Trading Strategy
Gold Opening Range Breakout Trading Strategy

Features

  • Adaptive position sizing based on real-time market volatility.
  • Option to manually set position size.
  • Ready for automated trading out of the box.
  • Fully annotated code for easy comprehension.
  • Full transparency with no "black boxes."

What's Included

  • Quick start guide
  • EasyLanguage source code (.eld format)
  • TradeStation Workspace (.tsw format)
  • Full code (.txt format)
  • Life-time strategy updates
Gold Opening Range Breakout Trading Strategy

Strategy Specifications

Trading Platform

TradeStation or MultiCharts

Programming Language

EasyLanguage

Ticker Symbol

@GC (Gold futures contracts)

Trade Types

Long

Trade Execution

Automated or manual

Stop-Loss Orders

None

Average Trade Duration

1 day

Trades per Year

21

Percent Profitable

57.4%

Profit Factor

1.83

Signals can also be used for:

GLD, Gold options

Learning From My Code

I think you'll find the following functions of interest to start coding and testing your own strategies!

Implemented Sub-Functions In This Strategy:

  • Automatic breakout detection
  • Automatic buy order placement
  • Automatic position size calculation based on volatility
  • Open trade management

Happy Trading!

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Faq.

Do I need a brokerage account to execute the code?

Yes, you'll need an account with either TradeStation or MultiCharts.


Both platforms offer free tier accounts. Simply copy and paste the code into your account to begin.

Is there a quick start guide available?

Yes, I provide a quick start guide that details how to set up the strategy for either manual or automated trading, based on your preference.

Is it necessary to fund the account with real money?

No, real money is not required to utilize the strategy.


It operates in live or simulation mode (your choice), allowing you to analyze trades or use another broker to execute them.

Can I place trades in advance, before the market opens?

Yes, all strategies, except for day trading, generate trade signals at the close of the current trading day.


This feature allows you to set up trades the evening before the market opens, freeing you from having to be at your computer.

Do I need programming skills to use this strategy?

No programming skills are needed. The strategy is ready to use right out of the box.


If you have an interest in learning how to program or have previous coding experience, the open-source code may be of interest to you.

What if I prefer manual trading over auto-trading?

That's perfectly fine. All strategies can toggle between automated and manual trading modes, allowing you to switch anytime according to your preference.

Do trade alerts only occur at the close of a trading bar?

Yes, trade alerts are issued at the close of each trading bar, which triggers a buy or sell order for the next bar.


The length of a bar depends on your trading style: one day for swing trading and a specified number of minutes for day trading.

How are trade alerts provided during manual trading?

In manual trading mode, a notification window appears to inform you of potential trades, allowing you to accept or reject them with a simple click.

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