# Turn of the Month

**iTradeAIMS | NAS100 Turn-of-Month** (short title **AIMS TOM**) is a **calendar / seasonal** strategy — not an intraday setup. It holds a long Nasdaq-100 position during a short window around the turn of each calendar month, based on published research (McConnell & Xu, 2008).

Because it trades only a handful of windows per year, costs can be lower per trade than high-frequency intraday systems — but **past seasonal patterns can weaken** as they become widely known. Strategy Tester output remains a **historical simulation**, not a promise of future returns.

Overnight and multi-day risk

Unlike the other edge engines, this script **holds overnight and across multiple sessions**. Factor gap risk, swap/funding, and broker margin rules into any live use. Not financial advice.

Historical simulation only

Strategy Tester results are **historical simulations**. The effect has attenuated in recent years compared with long-horizon academic samples. Not financial advice.

Publish status

This edge-engine script is **publish pending** in docs. Use the listed chart name only when it appears in your TradingView access list.

## Design timeframe[​](#design-timeframe "Direct link to Design timeframe")

**Daily chart only.** Logic counts **trading days** around month boundaries. On a daily Nasdaq-100 chart each bar is one session — matching how the research counts days. Intraday timeframes distort the day count.

Use **NAS100**, **US100**, **NDX**, or **QQQ** on a **daily** chart for the cleanest review.

## How it works[​](#how-it-works "Direct link to How it works")

1. **Window:** from the last **N** days before month-end (default **1**) through the first **M** trading days of the next month (default **3**).
2. **Entry:** go **long** when the window opens.
3. **Exit:** flat when the window closes.
4. **Regime gate (optional):** skip the window when close is below the **200-period SMA** (off by default).
5. **Sizing:** a set **% of equity** as directional exposure (default **100%** — fully invested during the window).

There is no intraday stop or target because this is a calendar hold, not a breakout or pullback setup.

## What to look for on the chart[​](#what-to-look-for-on-the-chart "Direct link to What to look for on the chart")

| Visual                         | Meaning                                                          |
| ------------------------------ | ---------------------------------------------------------------- |
| Green window shading           | The turn-of-month window is active and a position can be held    |
| Red window shading             | The calendar window exists but the 200-SMA regime gate blocks it |
| Month-turn marker              | First bar of a new month                                         |
| **200-SMA regime** line        | Green above / red below                                          |
| **TOM in / TOM out** labels    | Entry and exit markers                                           |
| Dashboard **IN WINDOW / flat** | Current calendar state                                           |

![Teaching diagram of NAS100 turn-of-month — window shading, TOM in/out labels, and 200-SMA](/img/indicators/nasdaq-strategy/tradingview/nas100-edge-tom-teaching-chart.png)

Teaching diagram — TOM calendar identity from the Pine visuals. Daily chart only.

## Key inputs[​](#key-inputs "Direct link to Key inputs")

| Group                | Input                          | Default | Notes                          |
| -------------------- | ------------------------------ | ------- | ------------------------------ |
| Turn-of-Month window | Position size (% equity)       | 100     | Unlevered hold                 |
| Turn-of-Month window | Trading days BEFORE month-end  | 1       | Last-day entry framing         |
| Turn-of-Month window | Trading days AFTER month-start | 3       | Post-turn leg                  |
| Turn-of-Month window | Only when close > 200-SMA      | off     | Regime gate                    |
| Visuals              | Turn-of-month window shading   | on      | Shows active / blocked windows |
| Visuals              | Month-turn markers             | on      | Marks first bar of month       |
| Visuals              | 200-SMA regime line (coloured) | on      | Shows regime gate context      |

## Chart overlays[​](#chart-overlays "Direct link to Chart overlays")

* **Turn-of-month window shading** — green where a position is held; red where the regime gate blocks
* **Month-turn markers** — vertical on each month's first bar
* **200-SMA regime line** — green above / red below
* Entry/exit markers (no R
  
  :R
  
  boxes — calendar hold, not a stop/target trade)

## Instrument[​](#instrument "Direct link to Instrument")

**NAS100**, **US100**, **NDX**, or **QQQ** on a **daily** chart for the cleanest history.

## Caveats[​](#caveats "Direct link to Caveats")

* The academic effect was strong over long historical samples; **recent years may show a smaller edge** than older studies.
* Weekend month-ends can shift the pre-turn entry to the first bar of the new month; the post-turn leg still applies.
* This is the one edge engine that **does not** follow the intraday flat-overnight pattern of ORB, ATR breakout, and VWAP trend.

## First-session checklist[​](#first-session-checklist "Direct link to First-session checklist")

1. Chart timeframe is **Daily**.
2. Window shading and month-turn markers are visible.
3. You understand that positions can hold overnight and across weekends/holidays.
4. Strategy Tester includes enough years to review more than a handful of windows.
5. You account for funding, gap risk, and broker margin before considering live use.

## Next steps[​](#next-steps "Direct link to Next steps")

* [Edge engines overview](/indicators/nasdaq-strategy/docs/tradingview/edge-engines.md)
* [Strategy Tester results](/indicators/nasdaq-strategy/docs/tradingview/strategy-results.md)
* [Start on TradingView](/indicators/nasdaq-strategy/docs/tradingview.md) — Ultimate NAS100