Strategy based on Williams %R indicator
Williams %R identifies overbought and oversold zones. When the indicator rises above the upper threshold it signals potential weakness for shorts; readings below the lower threshold suggest longs. Positions close once %R moves toward neutral.
Because %R oscillates quickly, the strategy can generate many signals in volatile markets. Some traders combine it with other filters to reduce noise.
- Entry Criteria: Signals based on Williams.
- Long/Short: Both directions.
- Exit Criteria: Opposite signal or stop.
- Stops: Yes.
- Default Values:
- Period = 14
- StopLossPercent = 2m
- CandleType = TimeSpan.FromMinutes(5)
- Filters:
- Category: Trend
- Direction: Both
- Indicators: Williams
- Stops: Yes
- Complexity: Basic
- Timeframe: Intraday (5m)
- Seasonality: No
- Neural Networks: No
- Divergence: No
- Risk Level: Medium