Monday Open Buy Signal Pound Yen Hourly
- Indicators
-
Masateru Yamaguchi
Independent developer of non-repainting MT5 indicators and EAs, focused on the Tokyo session and USDJPY. Every tool is backtested with fixed rules before release. Custom indicator/EA development is available via Freelance. - Version: 1.0
- Activations: 10
Draws one Monday buy arrow and one exit arrow per week, based only on the bar time. Designed for GBPJPY H1.
This indicator marks one trade idea per week.
On Monday, it draws a buy arrow at the open of the 11:00 bar. On the same Monday, it draws an exit arrow at the open of the 23:00 bar, and a dotted line joins the two. Both times are server time on the reference clock (GMT+2 in winter, GMT+3 in summer).
The arrows depend only on the bar time and use the bar open price. An arrow never moves or disappears after it appears, and history bars show the same result as live bars.
Features
- Designed and tested for GBPJPY on the H1 chart. On other symbols or on H1 and lower timeframes the same time rule is drawn, with a short note on the chart that it was not tested there (the note can be turned off).
- One simple rule based on time only. No other indicators are used.
- Server time setting: enter your server GMT offset in winter and whether your server uses summer time, so the arrows appear at the reference times on any broker.
- Optional alert, and optional push notification, once when an arrow bar opens.
- A Monday without an 11:00 or 23:00 bar is skipped.
- No DLL, no files, no web requests. It does not open or close trades.
Test results on past data (backtest only, not real trading)
- Period: January 2020 to October 2026, GBPJPY H1, with a round-trip cost of 0.9 pips deducted.
- First part (2020-01 to 2023-05): 177 trades. Second part (2023-06 to 2026-10): 176 trades.
- In the second part, 61.9% of trades closed with a gain, and the average result was +16.9 pips per trade.
- The rule has no stop loss. In the test, the largest floating loss was 87 pips.
- GBPJPY rose during much of this period. This is a buy-only rule, so results may be worse in a falling market.
- These numbers come from a backtest. They do not show future or real results.
Inputs
- Entry bar hour / Exit bar hour: 11 and 23 by default (reference time).
- Your server GMT offset in winter: 2 by default. Example: a server on GMT+0 enters 0.
- Your server adds +1 hour in summer: true by default. Set false if your server time does not change in summer.
- Colors, arrow size, gap between arrow and bar open, chart note on/off.
- Alert and push notification on/off.
Notes
- This is an indicator. You decide whether to trade.
- Real results depend on spread, slippage and your broker.
- Trading carries a risk of loss. Use money you can afford to lose.
- Questions: please use the Comments tab of this product.
FAQ
1. Does this indicator trade automatically?
No. It only draws arrows and sends optional alerts. You decide whether to trade.
2. Which symbol and timeframe should I use?
GBPJPY on the H1 chart. The rule was tested only on this pair and timeframe. It also draws on other symbols and on H1 or lower timeframes, with a note that it was not tested there.
3. The arrows appear at the wrong hour on my broker. What should I do?
The reference clock is GMT+2 in winter and GMT+3 in summer. Enter your server GMT offset in winter in "Your server GMT offset in winter". If your server time does not change in summer, set "Your server adds +1 hour in summer" to false.
4. Do the arrows repaint?
No. The arrows depend only on the time of the bar and use the bar open price, so an arrow does not move or disappear after it appears.
5. Does the test result mean I will make profit?
No. The numbers come from a backtest on past data. Real results depend on spread, slippage and the market. The rule has no stop loss, and losses can be large.
