Turnaround Tuesday – A simple but effective strategy for MT5 implemented as an Expert Advisor

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The Turnaround Tuesday Strategy in Detail:

The strategy is simple and requires no further explanation. The question is, why does this strategy work?

Tuesday is the perfect day for a positive change in market sentiment. In bearish markets, investment firms close positions to realize profits on Friday. They also close positions to have funds available for potential withdrawals from clients that came in over the weekend. Retail investors get cold feet on Monday after the weekend and sell positions. Brokerage firms try to capitalize on falling prices by reopening their positions on Tuesday.

There are some extreme examples of successes achieved through the Tuesday Turnaround strategy. Particularly after a market crash, Tuesdays have been the days when market sentiment turned positive again.

On Monday, October 19, 1987, the Dow Jones Industrial Average fell by -23% (508 points). On Tuesday, October 20, 1987, the Dow continued to fall until a bottom was found and the market began to rise again. By Friday, the market had made a good comeback. Despite the panic, Tuesday was the best opportunity to buy.

A similar situation occurred on October 28, 1997. On Monday, October 27, the Dow lost more than -7%. The price drop continued on Tuesday. A low of 6,936 was reached when the market finally began to rise and closed at 7,498 by the end of the day. Once again, Tuesday was the best day to buy.

In August 2015, the “Tuesday Turnaround” strategy had another remarkable success. On August 24, the DAX came under pressure, leading to a sell-off. The lowest level the market reached was 9,338 points, with a later closing price of 9,648 points. On Tuesday, the market continued its recovery. An investor selling at the market close on Tuesday made 480 points in less than 24 hours.

When to open a position?
If the DAX is below the 34-day moving average on Monday afternoon, a long position will be purchased at market price on Monday evening or early Tuesday.

When will the position be closed?
The position will be closed on Tuesday evening just before market close at market price.

Description from whselfinvest.de – YouTube video by Andre Stagge