Cosmological distance indicators by coalescing binaries
  Gravitational waves detected from well-localized inspiraling binaries would allow to determine, directly and independently, both binary luminosity and redshift. In this case, such systems could behave as "standard candles" providing an excellent probe of cosmic distances up to z < 0.1 and thus complementing other indicators of cosmological distance ladder. 
Mariafelicia De Laurentis, Salvatore Capozziello, Ivan De Martino,   Michelangelo Formisano
gr-qc astro-ph.CO