Gold ORB Strategy (15-min Range, 5-min Entry)

24 Nis

The Gold ORB (Opening Range Breakout) Strategy is designed for day traders looking to capitalize on the price action in the early part of the trading day, specifically using a 15-minute range for identifying the opening range and a 5-minute timeframe for breakout entries. The strategy trades the Gold market (XAU/USD) during the New York session.

Opening Range: The strategy defines the Opening Range (ORB) between 9:30 AM EST and 9:45 AM EST using the highest and lowest points during this 15-minute window.

Breakout Entries: The strategy enters trades when the price breaks above the ORB high for a long position or below the ORB low for a short position. It waits for a 5-minute candle close outside the range before entering a trade.

Stop Loss and Take Profit: The stop loss is placed at 50% of the ORB range, and the take profit is set at twice the ORB range (1:2 risk-reward ratio).

Time Window: The strategy only executes trades before 12:00 PM EST, avoiding late-day market fluctuations and consolidations.

24 Nis

Sürüm Notları

This Pine Script is designed for trading the Opening Range Breakout (ORB) strategy on the Gold market (XAU/USD), specifically focusing on Asia session data and trading during the New York session. Here's a detailed explanation of how the script works: