Turn around Tuesday on Steroids Strategy by Botnet101
By Botnet101
Performance Metrics
- Author: Botnet101
- Symbol: NASDAQ:QQQ
- Timeframe: 1 day
- Net P&L: +27,406,126.04 USD (+2,740.61%)
- Win Rate: 76.1%
- Profit Factor: 3.098
- Max Drawdown: 1,426,694.84 USD (41.90%)
- Total Trades: 377
- Sharpe Ratio: 0.303
Description
█ STRATEGY DESCRIPTION The "Turn around Tuesday on Steroids Strategy" is a mean-reversion strategy designed to identify potential price reversals at the start of the trading week. It enters a long position when specific conditions are met and exits when the price shows strength by exceeding the previous bar's high. This strategy is optimized for ETFs, stocks, and other instruments on the daily timeframe.█ WHAT IS THE STARTING DAY? The Starting Day determines the first day of the trading week for the strategy. It can be set to either Sunday or Monday, depending on the instrument being traded. For ETFs and stocks, Monday is recommended. For other instruments, Sunday is recommended.█ SIGNAL GENERATION 1. LONG ENTRY A Buy Signal is triggered when: The current day is the first day of the trading week (either Sunday or Monday, depending on the Starting Day setting). The close price is lower than the previous day's close (`close high[1]`). This indicates that the price has shown strength, potentially confirming the reversal and prompting the strategy to exit the position. █ ADDITIONAL SETTINGS Starting Day: Determines the first day of the trading week. Options are Sunday or Monday. Default is Sunday. Use MA Filter: Enables or disables the 200-period SMA filter for long entries. Default is disabled. Start Time and End Time: The time window during which the strategy is allowed to execute trades. █ PERFORMANCE OVERVIEW This strategy is designed for markets with frequent weekly reversals. It performs best in volatile conditions where price movements are significant at the start of the trading week. Backtesting results should be analysed to optimize the Starting Day and MA Filter settings for specific instruments.