Buy Mon Sell Mon

Article/Author: Mani L., Omega research Inc., 1997

Description: This system uses the dayofweek function that uses the date, what is in parenthesis and checks to see if that date is equal to 5 which is what Easy Language uses to designate Friday. It then states that if that condition is true, then it is going to buy tomorrow (Monday) at the open. Now the sell side makes a similar check. If dayofweek, looks at the date and sees if it is a 1 (Monday) then it sells on the close of that day.

Signal ELA Code:

 

{BUY ON OPEN MONDAY SELL ON CLOSE MONDAY}
 
 
 
IF DAYOFWEEK(DATE) = 5 THEN BUY TOMORROW ON OPEN;
 
IF DAYOFWEEK(DATE) = 1 THEN SELL THIS BAR ON CLOSE;