NoWeekendHoldingV2 is an algorithmic trading bot designed to manage open trades around the weekend period. It automatically closes all open trades before the weekend at a user-defined time and reopens them after the weekend at a specified time. This functionality is particularly useful for traders subject to proprietary firm rules that prohibit holding positions over the weekend or for those aiming to avoid risks associated with weekend market gaps.
Key features include:
- Scheduled closure of trades before the weekend.
- Scheduled reopening of trades after the weekend.
- Prevention of reopening trades if stop loss or take profit levels were triggered by weekend price gaps.
- Two modes for reopening trades: either opening trades immediately with stop loss and take profit set, or opening trades first and then placing stop loss and take profit orders afterward. The latter method offers greater accuracy but may not be supported by all brokers or prop firms.
This bot supports risk management by automating weekend trade handling to comply with trading constraints and reduce exposure to weekend volatility.