OPEN-SOURCE SCRIPT
Gold Power Hours Strategy
📈 Gold Power Hours Trading Strategy
Trade XAUUSD (Gold) or XAUEUR during the most volatile hours of the New York session, using momentum and trend confirmation, with session-specific risk/reward profiles.
✅ Strategy Rules
🕒 Valid Trading Times ("Power Hours"):
Trades are only taken during high-probability time windows on Tuesdays, Wednesdays, and Thursdays, corresponding to key New York session activity:
Morning Session:
08:00 – 11:00 (NY time)
Afternoon Session:
12:30 – 16:00
19:00 – 22:00
These times align with institutional activity and economic news releases.
📊 Technical Indicators Used:
50-period Simple Moving Average (SMA50):
Identifies the dominant market trend.
14-period Relative Strength Index (RSI):
Measures market momentum with session-adjusted thresholds.
🟩 Buy Signal Criteria:
Price is above the 50-period SMA (bullish trend)
RSI is greater than:
60 during Morning Session
55 during Afternoon Session
Must be during a valid day (Tue–Thu) and Power Hour session
🟥 Sell Signal Criteria:
Price is below the 50-period SMA (bearish trend)
RSI is less than:
40 during Morning Session
45 during Afternoon Session
Must be during a valid day and Power Hour session
🎯 Trade Management Rules:
Morning Session (08:00–11:00)
Stop Loss (SL): 50 pips
Take Profit (TP): 150 pips
Risk–Reward Ratio: 1:3
Afternoon Session (12:30–16:00 & 19:00–22:00)
Stop Loss (SL): 50 pips
Take Profit (TP): up to 100 pips
Risk–Reward Ratio: up to 1:2
⚠️ TP is slightly reduced in the afternoon due to typically lower volatility compared to the morning session.
📺 Visuals & Alerts:
Buy signals: Green triangle plotted below the bar
Sell signals: Red triangle plotted above the bar
SMA50 line: Orange
Valid session background: Light pink
Alerts: Automatic alerts for buy/sell signals
Trade XAUUSD (Gold) or XAUEUR during the most volatile hours of the New York session, using momentum and trend confirmation, with session-specific risk/reward profiles.
✅ Strategy Rules
🕒 Valid Trading Times ("Power Hours"):
Trades are only taken during high-probability time windows on Tuesdays, Wednesdays, and Thursdays, corresponding to key New York session activity:
Morning Session:
08:00 – 11:00 (NY time)
Afternoon Session:
12:30 – 16:00
19:00 – 22:00
These times align with institutional activity and economic news releases.
📊 Technical Indicators Used:
50-period Simple Moving Average (SMA50):
Identifies the dominant market trend.
14-period Relative Strength Index (RSI):
Measures market momentum with session-adjusted thresholds.
🟩 Buy Signal Criteria:
Price is above the 50-period SMA (bullish trend)
RSI is greater than:
60 during Morning Session
55 during Afternoon Session
Must be during a valid day (Tue–Thu) and Power Hour session
🟥 Sell Signal Criteria:
Price is below the 50-period SMA (bearish trend)
RSI is less than:
40 during Morning Session
45 during Afternoon Session
Must be during a valid day and Power Hour session
🎯 Trade Management Rules:
Morning Session (08:00–11:00)
Stop Loss (SL): 50 pips
Take Profit (TP): 150 pips
Risk–Reward Ratio: 1:3
Afternoon Session (12:30–16:00 & 19:00–22:00)
Stop Loss (SL): 50 pips
Take Profit (TP): up to 100 pips
Risk–Reward Ratio: up to 1:2
⚠️ TP is slightly reduced in the afternoon due to typically lower volatility compared to the morning session.
📺 Visuals & Alerts:
Buy signals: Green triangle plotted below the bar
Sell signals: Red triangle plotted above the bar
SMA50 line: Orange
Valid session background: Light pink
Alerts: Automatic alerts for buy/sell signals
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
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.