E-Friday: A Daily Candle Direction Strategy with Time-Based Entry

Summary

The E-Friday expert advisor uses the prior daily candle’s direction to choose a trade: it buys when that candle closed above its open and sells when it closed below its open. It permits only one open position at a time, making the stated approach compatible with both hedging and netting account modes. Trades can be opened only when the server clock reaches a configured entry hour, and the chart timeframe must be no longer than one hour for that check to work as intended.

The strategy disables trading on Fridays and can optionally close a position at a configured hour. The document gives operational rules but no backtest, market, or performance evidence. It does not describe position sizing, stop placement, or treatment of unchanged daily candles, so those details and the risks of following a single candle’s direction remain unspecified.

Key ideas

• The entry direction follows whether the previous daily candle closed above or below its open.
• The advisor holds at most one position at a time and is described for hedging or netting accounts.
• Entry is restricted to a configured server hour, with a stated maximum chart timeframe of one hour.
• Trading is disabled on Fridays, and positions may optionally close at a configured hour.
• The document provides no performance evidence or rules for sizing and risk controls.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.