Strategy using Volume Profile and daily closing price (Strategy using Volume Profile and daily)

Hi Trader, I've been looking for better strategies regarding volume profiles and market profiles. I backtested this strategy using Volume Profiles and it's worked great so far.
There are many posts about volume profiles and how to read charts using volume profiles on Forex Factory. You can use it for futures and stocks.
This makes it easy to determine where to trade and take profit.

This is not my strategy, I found this in another forum (https://www.forexbatch.com/thread-st...ading-strategy).

Let's get into strategy. As a basic rule of volume profiles, prices always seek fair value based on buyer-seller agreement. Rather than staying in low volume areas for longer, price will be attracted to higher value areas where there is more trading activity.

A 1 hour chart is used here, but you can use any chart below 1 hour as the volume profile looks better at lower TF.

Simple buying rules:
If the last candle of the day (last 1-hour candle) closes in a low volume area, the price is more likely to move to a high value area. Whenever we find the last candle closing in the low area below the high area, we buy with the TP target of the last volume node.

Below, the value area is set to 70 (which means the colored area is where 70% of transactions occur).



Buy position with price target at the low of the following value area

Also for selling, if the last candle closes in the low area above the high area, sell with the target TP of the high area high.



Please check the backtest for better understanding. So far I've backtested EU and AU pairs. Also, it is better to choose mesh in case the price is too high, which is rare.

Thanks.