Weekly Day Reversal Expert Advisor

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This Expert Advisor is designed to test day-of-week market patterns. It analyzes the direction of the previous trading day and can open positions either in the direction of continuation or in the direction of reversal on the following day. Any combination of weekdays can be tested, allowing the evaluation of recurring market behavior and calendar-based effects.

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Positions can be closed at the end of the trading day to isolate the raw day-of-week effect, or managed using optional Stop Loss, Take Profit, and additional filters. This makes it possible to compare the underlying pattern with optimized trade management rules.

The EA was developed as a research framework for systematically testing day-of-week hypotheses across different markets, including Forex, commodities, and stock indices.

Parameters include:
- LotType: Position sizing method, which can be either fixed or based on a percentage of the account balance.
- Fixed Lot: Fixed trade volume.
- Risk: Risk per trade in percent, used when risk-based position sizing is enabled.
- Weekly Day: The day of the week whose direction is being evaluated.
- Direction: Whether to trade in the direction of continuation or reversal.
- ATR Filter: Enables or disables the volatility filter, which uses the Average True Range (ATR) to determine whether to open a trade.
- DailyATRPeriod: The period used to calculate the ATR on the daily timeframe.
- MinCheckDayATR: The minimum range required for a trade to be opened, expressed as a multiple of the ATR.

Position settings include:
- kDailyATR: Stop Loss distance expressed as a multiple of the daily ATR.
- rrTP: Risk/Reward ratio used to calculate Take Profit.
- CloseHour: The hour at which all open positions are force-closed.
- MagicNumber: A 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.
- Only one position per symbol can be open at a time.
- All positions are force-closed at the hour specified in CloseHour.

Risk calculation is based on the account balance captured when the EA starts, not from the current account balance. This behavior is intentional and was designed to make strategy testing more consistent.

The strategy was tested on EURUSD, XAUUSD, and SP500 over the 2016-2026 period. The results showed a profit factor of 1.31 after adding the ATR filter and position management rules.

This EA is intended for testing trading hypotheses and should not be used to trade real money without additional research and validation.

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#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.1"
#include <Trade\Trade.mqh>
CTrade trade;
enum ENUM_LOT_TYPE {
   LOT_FIXED = 0,
   LOT_RISK  = 1
};
enum ENUM_ED {

.......

• 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.