GOLD Londonsession V2 WD
GOLD Londonsession V2 WD marks the Asia, pre-London and London entry sessions on gold and draws entry, take profit and stop loss when a setup appears. Built for XAUUSD on the 5-minute chart.
Rules: price takes out the Asia high or low before London (01:00-06:00 UK range, swept 06:00-08:00 UK). A 5-minute break of structure in the same direction must form between 08:00 and 09:00 UK. The indicator then places a limit entry at the broken level, valid for 60 minutes. The stop is 0.3x the 14-day ATR and the target is 1.5R. Signals appear only on closed candles, and there is at most one per day.
Backtest, 1% risk with costs included: Nov 2023-Oct 2026 won 48% of trades with profit factor 1.39. Feb 2021-Dec 2023 won 39% with profit factor 0.89, which lost money. The rules were chosen using mostly the recent period, so the recent result is flattering. Trade on demo first. Past results don't predict future ones. This is an educational tool, not financial advice.
Rules: price takes out the Asia high or low before London (01:00-06:00 UK range, swept 06:00-08:00 UK). A 5-minute break of structure in the same direction must form between 08:00 and 09:00 UK. The indicator then places a limit entry at the broken level, valid for 60 minutes. The stop is 0.3x the 14-day ATR and the target is 1.5R. Signals appear only on closed candles, and there is at most one per day.
Backtest, 1% risk with costs included: Nov 2023-Oct 2026 won 48% of trades with profit factor 1.39. Feb 2021-Dec 2023 won 39% with profit factor 0.89, which lost money. The rules were chosen using mostly the recent period, so the recent result is flattering. Trade on demo first. Past results don't predict future ones. This is an educational tool, not financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.