001 - Turnaround Tuesday
This professional-grade solution for MetaTrader 5 helps traders achieve greater efficiency in their daily workflow. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use 001 - Turnaround Tuesday
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
Strategy logic: if Monday closes below its open, a Buy position is opened at the start of Tuesday. If Monday closes above its open, a Sell position is opened. The trade is always taken against Monday's direction.
An optional ATR filter can be applied, and Stop Loss / Take Profit levels can be calculated based on current market volatility.
This EA was built as a research tool for testing calendar-based market effects and trading hypotheses.
Parameters
LotType
- Position sizing method.Fixed Lot — fixed trade volume.% Risk from Start Balance — position size calculated from a predefined risk percentage.
Lots
- Fixed lot size used when Fixed Lot mode is selected.
Risk
- Risk per trade in percent. (Used only when risk-based position sizing is enabled.)
ATR Filter
FilterATR
- Enables or disables the volatility filter.
DailyATRPeriod
- ATR period calculated on the daily timeframe.
MinCheckDayATR
- Minimum Monday range expressed as a multiple of ATR.
Position Settings
kDailyATR
- Stop Loss distance expressed as a multiple of the daily ATR (0 disables Stop Loss).
rrTP
- Risk/Reward ratio used to calculate Take Profit (0 disables Take Profit).
Close Position
CloseHour -
Hour when all open positions are force-closed.If neither Stop Loss nor Take Profit has been reached, the position will be closed at market price.
MagicNumber
- Unique identifier used for the EA's positions. Important Notes
The EA analyzes daily candles regardless of the chart timeframe.
Entry conditions are checked only when a new daily bar appears.
ATR values are taken from the daily timeframe (PERIOD_D1).
Only one position per symbol can be open at a time.
All positions are force-closed at the hour specified in CloseHour.
If Stop Loss is disabled (kDailyATR = 0), risk-based position sizing cannot be calculated. In this case, the minimum allowed lot size is used. Backtest Results
The strategy was tested on EURUSD, XAUUSD and SP500 over the
2016–2026
period.
EURUSD:
-1.3%
XAUUSD:
-2.3%
SP500:
+0.03%
After adding the
ATR filter
and position management rules, the results changed:
XAUUSD:
+38%
SP500:
+40%
Maximum drawdown on SP500: 11%
Full research report, equity curves and test results:
Source code is open — feel free to modify it, test it on other instruments and build upon it.This EA was created to test trading hypotheses, not to trade real money without additional research and validation.
