Gold Friday Anomaly StrategyThis script implements the " Gold Friday Anomaly Strategy ," a well-known historical trading strategy that leverages the gold market's behavior from Thursday evening to Friday close. It is a backtesting-focused strategy designed to assess the historical performance of this pattern. Traders use this anomaly as it captures a recurring market tendency observed over the years.
What It Does:
Entry Condition: The strategy enters a long position at the beginning of the Friday trading session (Thursday evening close) within the defined backtesting period.
Exit Condition: Friday evening close.
Backtesting Controls: Allows users to set custom backtesting periods to evaluate strategy performance over specific date ranges.
Key Features:
Custom Backtest Periods: Easily configurable inputs to set the start and end date of the backtesting range.
Fixed Slippage and Commission Settings: Ensures realistic simulation of trading conditions.
Process Orders on Close: Backtesting is optimized by processing orders at the bar's close.
Important Notes:
Backtesting Only: This script is intended purely for backtesting purposes. Past performance is not indicative of future results.
Live Trading Recommendations: For live trading, it is highly recommended to use limit orders instead of market orders, especially during evening sessions, as market order slippage can be significant.
Default Settings:
Entry size: 10% of equity per trade.
Slippage: 1 tick.
Commission: 0.05% per trade.
Goldlong
Marcel's Dynamic Profit / Loss Calculator for GoldOverview
This Dynamic Risk / Reward Tool for Gold is designed to help traders efficiently plan and manage their trades in the volatile gold market. This script provides a clear visualisation of trade levels (Entry, Stop Loss, Take Profit) while dynamically calculating potential profit and loss. It ensures gold traders can assess their positions with precision, saving time and improving risk management.
Key Features
1. Trade Level Visualisation:
Plots Entry (Blue), Stop Loss (Red), and Take Profit (Green) lines directly on the chart.
Helps you visualise and confirm trade setups quickly which is good for scalping and day trades.
2. Dynamic Risk and Reward Calculations:
Calculates potential profit and loss in real time based on user-defined inputs such as position size, leverage, and account equity.
Displays a summary panel showing risk/reward metrics directly on the chart.
3. Customisable Settings:
Allows you to adjust key parameters like account equity, position size, leverage, and specific price levels for Entry, Stop Loss, and Take Profit.
Defaults are dynamically generated for convenience but remain fully adjustable for flexibility.
How It Works
The script uses gold-specific conventions (e.g., 1 lot = 100 ounces, 1 pip = 0.01 price change) to calculate accurate risk and reward metrics.
It dynamically positions Stop Loss and Take Profit levels relative to the entry price, based on user-defined or default offsets.
A real-time summary panel is displayed in the bottom-right corner of the chart, showing:
Potential Profit: The monetary value if the Take Profit is hit.
Potential Lo
ss: The monetary value if the Stop Loss is hit.
How to Use It
1. Add the script to your chart on a gold trading pair (e.g., XAUUSD).
2. Input your:
Account equity.
Leverage.
Position size (in lots).
Desired En
try Price (default: current close price).
3. Adjust the Stop Loss and Take Profit levels to your strategy, or let the script use default offsets of:
500 pips below the Entry for Stop Loss.
1000 pips above the Entry for Take Profit.
4. Review the plotted levels and the summary panel to confirm your trade aligns with your risk/reward goals.
Why Use This Tool?
Clarity and Precision:
Provides clear trade visuals and financial metrics for confident decision-making.
Time-Saving:
Automates the calculations needed to evaluate trade risk and reward.
Improved Risk Management:
Ensures you never trade without knowing your exact potential loss and gain.
This script is particularly useful for both novice and experienced traders looking to enhance their risk management and trading discipline in the Gold market. Enjoy clearer trades at speed.
XAUUSD Multi-Timeframe Trend AnalyzerOverview
The "XAUUSD Multi-Timeframe Trend Analyzer" is an advanced script designed to provide a comprehensive analysis of the XAUUSD (Gold/US Dollar) trend across multiple timeframes simultaneously. By combining several key technical indicators, this tool helps traders quickly assess the market direction and trend strength for M15, M30, H1, H4, and D1 timeframes.
Multi-Timeframe Analysis: Displays the trend direction and strength across M15, M30, H1, H4, and D1 timeframes, allowing for a complete overview in a single glance.
Comprehensive Indicator Blend: Utilizes six popular technical indicators to determine the trend—Moving Averages, RSI, MACD, Bollinger Bands, DMI, and Parabolic SAR.
Trend Strength Scoring: Provides a numerical trend strength score (from -6 to 6) based on the alignment of the indicators, with positive values indicating uptrends and negative values for downtrends.
Visual Table Display: Displays results in a color-coded table (green for uptrend, red for downtrend, yellow for neutral) with a strength score for each timeframe, helping traders quickly assess market conditions.
How It Works
This script calculates the overall trend and its strength for each selected timeframe by analyzing six widely-used technical indicators:
Moving Averages (MA): The script uses a Fast and a Slow Moving Average. When the Fast MA crosses above the Slow MA, it indicates an uptrend. When the Fast MA crosses below, it signals a downtrend.
Relative Strength Index (RSI): The RSI is used to assess momentum. An RSI value above 50 suggests bullish momentum, while a value below 50 suggests bearish momentum.
Moving Average Convergence Divergence (MACD): MACD measures momentum and trend direction. When the MACD line crosses above the signal line, it signals bullish momentum; when it crosses below, it signals bearish momentum.
Bollinger Bands: These measure price volatility. When the price is above the middle Bollinger Band, the script considers the trend to be bullish, and when it's below, bearish.
Directional Movement Index (DMI): The DMI compares positive directional movement (DI+) and negative directional movement (DI-). A stronger DI+ over DI- signals an uptrend and vice versa.
Parabolic SAR: This indicator is used for determining potential trend reversals and setting stop-loss levels. If the price is above the Parabolic SAR, it indicates an uptrend, and if below, a downtrend.
Trend Strength Calculation
The script calculates a trend strength score for each timeframe:
Each indicator adds or subtracts 1 to the score based on whether it aligns with an uptrend or a downtrend.
A score of 6 indicates a Strong Uptrend, with all indicators aligned bullishly.
A score of -6 indicates a Strong Downtrend, with all indicators aligned bearishly.
Intermediate scores (e.g., 2 or -2) indicate Weak Uptrend or Weak Downtrend, suggesting that not all indicators are in agreement.
A score between 1 and -1 indicates a Neutral trend, suggesting uncertainty in the market.
How to Use
Assess Trend Direction and Strength: The table provides an easy-to-read summary of the trend and its strength on different timeframes. Look for timeframes where the strength is high (either 6 for a strong uptrend or -6 for a strong downtrend) to confirm the market’s overall direction.
Use in Conjunction with Other Strategies: This indicator is designed to provide a comprehensive view of the market. Traders should combine it with other strategies, such as price action analysis or candlestick patterns, to further confirm their trades.
Trend Reversal or Continuation: A weak trend (e.g., a strength of 2 or -2) could signal a possible reversal or a trend that has lost momentum. Strong trends (with a strength of 6 or -6) indicate higher confidence in trend continuation.
Multiple Timeframe Confirmation: Look for alignment across multiple timeframes to confirm the strength and direction of the trend before entering trades. For example, if M15, M30, and H1 are all showing a strong uptrend, it suggests a higher probability of the trend continuing.
Customization Options
- Adjustable Indicators: Users can modify the length and parameters of the Moving Averages, RSI, MACD, Bollinger Bands, DMI, and Parabolic SAR to suit their trading style.
- Flexible Timeframes: You can toggle between different timeframes (M15, M30, H1, H4, D1) to focus on the intervals most relevant to your strategy.
Ideal For
- Traders looking for a detailed, multi-timeframe trend analysis tool for XAUUSD.
- Traders who rely on trend-following strategies and need confirmation across multiple timeframes.
- Those who prefer a multi-indicator approach to avoid false signals and improve the accuracy of their trades.
Disclaimer
This indicator is for informational and educational purposes only. It is recommended to combine this with proper risk management strategies and your own analysis. Past performance does not guarantee future results. Always perform your own due diligence before making trading decisions.
