Weekday High-Low Averages for Timing Entries and Exits

Summary

This indicator estimates the average intraday high and low for each weekday over a rolling period, using Monday’s open as the reference price. It plots the weekday’s average high and low as separate lines; the described rule treats a trough in the low line as a possible buy point and a peak in the high line as a possible sell point. The author suggests adjusting whether trades enter or exit at the open or close according to the broader trend.

The example uses a 100-period lookback and averages weekday-specific percentage moves. It offers no performance results or validation, and the author cautions that the statistical signal should only filter timing, not serve as a standalone method. The calculation also depends on weekday and session conventions, and its reference to Monday’s open may not fit markets with different trading calendars or sessions.

Key ideas

• The indicator averages highs and lows by weekday relative to Monday’s open.
• It uses rolling weekday-specific averages to plot potential timing levels.
• The suggested entry signal is a trough in the low line, while a peak in the high line may indicate an exit.
• The author recommends adapting open and close execution to the prevailing trend.
• The indicator is presented as a filter and has no reported performance evidence.

Tags

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