The way you use a time filter in your expert advisors is to add a time icon that connects from START to AND thus the logic in the same "branch (connected by the same AND)" will work only under the time filter defined in the time icon.
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For Open the position Monday through Friday, between 00:00 through 00:05.
Assuming you don't use a TA for an extra logic, in this case you don't need an AND. Just the time icon connected to the buy icon. Set all days to YES. Set hours start to 0, minute start to 0, hours end to 0 and minutes end to 5. You need to trade every tick. If you do not get a tick between 0 and 5 min it won't trade. That's the way mt4 works, you need a tick to run the ea.
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For Close the position on Friday, at 21:57.
You cannot close at a specific time, you can close if time > 21:57 Again, mt4 needs a tick to run the ea, if you get a tick at 21:57:01 it will close it right away, but if you don't get any tick until 21:58, the ea will close the position at 21:58 and not 21:57. Again this is the way metatrader works. You need info (ticks) from the server to trade. Late at night when volatility is low you may get ticks every 50 segs. At noon you get ticks every couple of seconds so time filters work better at trading times.
To close, just set Friday to YES, start at 21 57, end at 23 59 so you will have plenty of time to close the position