Turnaround Tuesday Trading Strategy
Info
The Turnaround Tuesday Trading Strategy is a Expert Advisor for MetaTrader 5 that this expert advisor (ea) is designed to test the turnaround tuesday hypothesis, a calendar-based trading strategy. Strategy:- If Monday's close is below its open, buy at the start of Tuesday.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Turnaround Tuesday Trading Strategy
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.
What this tool does
This Expert Advisor (EA) is designed to test the Turnaround Tuesday hypothesis, a calendar-based trading strategy.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: Exp Color Schaff De Marker Trend Cycle - another powerful expert for MetaTrader 5 traders.
This Expert Advisor (EA) is designed to test the Turnaround Tuesday hypothesis, a calendar-based trading strategy.Also recommended: Martingail Expert - similar expert with strong performance on MetaTrader 5.
Strategy:
- If Monday's close is below its open, buy at the start of Tuesday.
- If Monday's close is above its open, sell at the start of Tuesday.
The trade direction is always opposite to Monday's price movement.
Parameters:
LotType:
- Fixed Lot: Use a fixed trade volume.
- % Risk from Start Balance: Calculate position size based on a predefined risk percentage.
Lots:
- Specify the fixed lot size when using the Fixed Lot mode.
Risk:
- Define the risk per trade as a percentage.
ATR Filter:
FilterATR:
- Enable or disable the volatility filter.
DailyATRPeriod:
- Set the ATR period for the daily timeframe.
MinCheckDayATR:
- Minimum Monday range as a multiple of ATR.
Position Settings:
kDailyATR:
- Stop Loss distance as a multiple of daily ATR (0 disables Stop Loss).
rrTP:
- Risk/Reward ratio for Take Profit calculation (0 disables Take Profit).
Close Position:
CloseHour:
- Hour to force-close all open positions. If neither Stop Loss nor Take Profit is triggered, the position is closed at the market price.
MagicNumber:
- Unique identifier for the EA's positions.
Notes:
- The EA analyzes daily candles regardless of the chart timeframe.
- Entry conditions are checked only when a new daily bar forms.
- ATR values are taken from the daily timeframe (PERIOD_D1).
- Only one position per symbol can be open simultaneously.
- All positions are force-closed at the specified hour.
- If Stop Loss is disabled, risk-based position sizing is not calculated, and the minimum lot size is used.
Backtest Results (2022–2026):
EURUSD: -1.3%
XAUUSD: -2.3%
SP500: +0.03%
With ATR filter and position management:
XAUUSD: +38%
SP500: +40%
SP500 Max Drawdown: 11%
For detailed research, equity curves, and test results, refer to the full report. The source code is available for modification and further testing. This EA is intended for hypothesis testing and not for live trading without thorough research and validation.
You may also like: Crossing of two i MA - excellent alternative for expert users on MetaTrader 5.
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.