Gold Friday Anomaly Strategy by piirsalu
By piirsalu
Performance Metrics
- Author: piirsalu
- Symbol: OANDA:XAUUSD
- Timeframe: 1 day
- Net P&L: +2,015.21 USD (+20.15%)
- Win Rate: 56.5%
- Profit Factor: 1.455
- Max Drawdown: 204.68 USD (1.79%)
- Total Trades: 1,293
- Sharpe Ratio: −0.467
Description
This 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.