An effective GOLD Breakout strategy

An effective GOLD Breakout strategy

Hello everyone,

I have used the “London Open Breakout” on the forex, a well known strategy.

I had the idea to optimize it on Gold.

It is profitable, with the following entry rules:

  • GOLD, contracts 1€, hourly timeframe
  • the breakout takes reference to the period from 20PM to 5AM (8 candles for me, because on my display I have no candle between 23PM and 12AM)
  • we take positions from 5AM to 18PM
  • stop loss : the other side of the breakout channel
  • take profit : 1.8 x stop loss
  • no cumulation of orders
  • if we are “long” and the next day we have a “short”, we close the “long” and go “short”

Others parameters are profitable, it should be easy to modify them and optimize this strategy : 

  • starting and ending of breakout channel
  • starting and ending of positions
  • stop loss / take profit
  • accumulated positions
  • etc.

This can be automated, of course.

On the screenshot, the backtest was made WITHOUT spread, as I don’t know it.

Best Regards,

 

Share this

Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

New! PRC is also now on YouTube, subscribe to our channel for exclusive content and tutorials

  1. Elsborgtrading • 07/18/2016 #

    Hi Doc:-) seems like when I backtest this on IG(only back to 13 apr 2012) it wins, but if I ass 2,5 spred it looses. what spread did you use?
    Cheers
    Kasper

  2. Elsborgtrading • 07/18/2016 #

    *add 😉

  3. Doctrading • 07/18/2016 #

    Hello,
    As I said, I didn’t use spread for the screenshot as I don’t trade Gold and I don’t know the spread… but if your spread is correct, the strategy is just loosing 🙁
    Anyway it could be a nice idea to improve.Regards,
     

  4. smurfy • 07/18/2016 #

    Hi,
    I had been losing on gold and after I manually go through the 5min chart using IG and when there’s a breakout, the same behavior happens I found something on the same trend always using Bollinger, RSI and MACD.
    But when sensing that a 5min chart a breakout going to happen, I have to switch to 1min chart to gain profits.
    I manually went through all the way till year 2014/5 and calculate (unless I missed out something) and this seems to be working. Low profits like mayb 10-30 pips but win rate is high.
    I need someone who wishes work with me to write the code and test it.
    Not sure if I’m able to do something out.
    Any interested party can write to me.
    Thanks!

    • eiffel • 258 days ago #

      Hi Smurfy,
      hope you are still there… I would like to help you to write and test the code.

avatar
Register or

Likes

avatar avatar avatar avatar avatar avatar avatar avatar avatar
Related users ' posts
supertiti Bonjour Anthon...y ? On est vraiment tout près de ce que propose Julien , sur sa dernière...
anthon Salut à tous et merci ! Content que les indicateurs vous plaisent . Abonnez vous à ma page y...
Varadero54 Bonjour Anthon ... pourrais-tu me communiquer l'adresse ou le nom de ta chaine YOUTUBE ... j...
luxrun Vonasi, is it possible to have a screenshot of an index chart (eg djia) and below the breako...
Vonasi I can't add any images here now that the library post has been listed. Perhaps you could sta...
Theo Salut, qu'elle est ta définition de niveau institutionnel et comment les trouves tu?
Etops Hello, les niveaux sur lesquels il y a des réactions fortes de la part des banques, les nive...
Theo D'accord merci
Vonasi Thanks for the compliments Maxime Baudin.
JJ Tec Muy interesante ¡¡¡... gracias X el aporte.
HStrader Thank you for your nice indicator
Vonasi Change line 76 to if opendayofweek opendayofweek[1] and opendayofweek 0 then if ...
Vonasi I just noticed that the above post makes no sense as the symbols have been removed. Here in ...
dario ti Thank you!
Razz Hello Vonasi super indicator! is it possible to extend the indicator by the time scales M10 ...
Razz Hello Vonasi I found out myself how I can change it. Thanks again for the indicator
sir_i Bonjour à tous, Je suis nouveau sur le forum et sur la plateforme, pourriez-vous me dire com...
Nicolas Il faut simplement l'appliquer sur le prix.
sir_i Merci pour la réponse, je ne suis pas familier avec l'application de cette procédure simple,...
Vonasi There is another version of this indicator that can plot the same lines but onto an indicato...
Martin35 Hello Vonasi, do you think it is possible with PRT to code with the same principle as on thi...
Maik2404 es sind leider nur long Positionen und keine Short zu erkennen.
Maik2404 Vytautas: es bleibt aber nur bei long Auslösungen
ullle73 this one is not a winner, have backtested it on almost all pairs, does not have an edge
eugenio buongiorno paolo , volevo farti i complimenti x il lavoro fatto , funziona molto bene sul 3 ...
Modes68 muy buena estrategia, gracias por compartirla thank yoy for your estrategy, I like me
xpiga Good morning! How do we adjust the code to the different timeframes? You said something ab...
Leo Does it opens pending orders?... maybe they were not trigger.
Mattzi Dont know, all i can see is that it opened an order yesterday in backtest but not live. Th...
Jean-Christophe Hello Leo, when running the strategy from 29/12/2015 to 31/08/2018 on ProRealTime Premium, I...
Simba Greetings from germany! :) Can you told me your EXIT-strategy for this, please? :) Would ...
Eric If you have a high percentage winners and the trades are closed with take profit the spread ...
Casenova I Agree with you JaunJ, and Yes Eric, what you say makes sense too. Optimizing the Stop Loss...
ET Thanks for the system Casenova. In determining the high of the past 4 bars, is there a reaso...
Nicolas Please add a request on forums for any MT4 code conversion, thank you. Follow these easy ste...
mecon I will do so, thank you!
firemyst @mecon, did you ever get one?
apachx Hi. Please, describe the algorithm in words. I want to understand how it works, but for now...
JanWd Hey Doctrading, I tried your code, optimising the A and V and the RSI period, see below. ...
Glen Marquis This will work as there is plenty of room for the Target before the Stop, yet the Stop would...
magicT I did a copy and paste of this code and PRT 10.3 returns a synthax mistake: OneTradePerD...

Top