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function is not described

WC_Product::is_on_sale() public WC 1.0

Returns whether or not the product is on sale.

{} It's a method of the class: WC_Product{}

Hooks from the method
Return

true|false.

Usage

$WC_Product = new WC_Product();
$WC_Product->is_on_sale( $context );
$context(string)
What the value is for. Valid values are view and edit.

Code of WC_Product::is_on_sale() WC 5.5.2

<?php
public function is_on_sale( $context = 'view' ) {
	if ( '' !== (string) $this->get_sale_price( $context ) && $this->get_regular_price( $context ) > $this->get_sale_price( $context ) ) {
		$on_sale = true;

		if ( $this->get_date_on_sale_from( $context ) && $this->get_date_on_sale_from( $context )->getTimestamp() > time() ) {
			$on_sale = false;
		}

		if ( $this->get_date_on_sale_to( $context ) && $this->get_date_on_sale_to( $context )->getTimestamp() < time() ) {
			$on_sale = false;
		}
	} else {
		$on_sale = false;
	}
	return 'view' === $context ? apply_filters( 'woocommerce_product_is_on_sale', $on_sale, $this ) : $on_sale;
}