Spec sheet № 04 of 13London openOpening range breakoutBeta
Dawn Range: London-open gold range breakout bot
Marks gold's first 30 minutes after 2:00 AM ET and trades the first break out of that range.
In NinjaTrader as London ORB MGC
Illustration of the entry rules, not a real or simulated trade and not a result. Hypothetical or simulated performance results have certain limitations (CFTC Rule 4.41). Read the full notice.
Who it's for
Traders who want one early gold trade before the New York day starts.
§ 01 How it trades
The rules, in order
- Marks the high and low from 2:00 to 2:30 AM ET.
- The first 5-minute close above the range goes long; the first close below it goes short.
- Stop at 3 times the average true range, target at 2 times it.
- Last entry at 7:30 AM ET. Any open trade is closed at 8:00 AM ET.
§ 02 Market context
The 2:00 AM ET range
European trading starts around 2:00–3:00 AM ET, and gold often becomes more active then. Dawn Range takes the first 30 minutes of that window, 2:00 to 2:30 AM ET, as its range and trades the first 5-minute close outside it.
Stops and targets come from the average true range, so they widen on volatile mornings and tighten on quiet ones. Last entry is 7:30 AM ET, and anything open is closed at 8:00 AM ET, before the New York open.
When this setup struggles
- A false break: a close outside the range that reverses straight back.
- A very narrow 2:00–2:30 range that breaks on noise.
- Early data releases that move gold sharply.
§ 03 Risk and settings
Risk rules
- One trade per session, one position at a time.
- The stop is wider than the target, so a few losses can outweigh many small gains. Size accordingly.
- No daily loss limit.
Before you turn it on
- Load it on a 5-minute MGC or GC chart.
- One trade per session, one position at a time.
- There is no daily loss limit, so size for the 3× ATR stop.
Settings like contracts are adjustable. This bot has no built-in daily loss limit.
§ 04 Questions
Dawn Range: common questions
What range does Dawn Range use?
The high and low from 2:00 to 2:30 AM ET.
How is it different from Bullion Break?
Dawn Range uses a 30-minute range after 2:00 AM ET on 5-minute bars with ATR-based exits. Bullion Break uses the whole Asia session range on 15-minute closes, with a stop at the range middle.
When is it flat?
Last entry is 7:30 AM ET and any open trade is closed at 8:00 AM ET.
§ 05 Related
Similar bots in the lineup
Bullion Break
Marks gold's overnight Asia high and low, then trades the first London close outside that range.
See the rules →Asia · MGC · GCGold Dipper
Buys sharp dips in gold's uptrend and sells sharp pops in its downtrend through the Asia session.
See the rules →New York · MGC · GCGold Trap
Waits for gold to break its New York opening range and fail, then trades back the other way.
See the rules →Get started
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