Implementation of strategy - RSI + Williams %R. Buy when RSI is below 30 and Williams %R is below -80 (double oversold condition). Sell when RSI is above 70 and Williams %R is above -20 (double overbought condition).
RSI outlines the overall momentum, while Williams %R gives a quicker signal of reversal. Trades act on agreement between the two oscillators.
Good for active traders chasing short swings. ATR-based stops are employed.
- Entry Criteria:
- Long: RSI < RsiOversold && WilliamsR < WilliamsROversold
- Short: RSI > RsiOverbought && WilliamsR > WilliamsROverbought
- Long/Short: Both
- Exit Criteria:
- RSI returns to neutral zone
- Stops: Percent-based using StopLoss
- Default Values:
- RsiPeriod = 14
- RsiOversold = 30m
- RsiOverbought = 70m
- WilliamsRPeriod = 14
- WilliamsROversold = -80m
- WilliamsROverbought = -20m
- StopLoss = new Unit(2, UnitTypes.Percent)
- CandleType = TimeSpan.FromMinutes(5).TimeFrame()
- Filters:
- Category: Mean reversion
- Direction: Both
- Indicators: RSI, Williams %R, R
- Stops: Yes
- Complexity: Intermediate
- Timeframe: Mid-term
- Seasonality: No
- Neural Networks: No
- Divergence: No
- Risk Level: Medium