OPEN-SOURCE SCRIPT
Williams R Zone Scalper v1.0[BullByte]
Originality & Usefulness
Unlike standard Williams R cross-over scripts, this strategy layers five dynamic filters—moving-average trend, Supertrend, Choppiness Index, Bollinger Band Width, and volume validation—and presents a real-time dashboard with equity, PnL, filter status, and key indicator values. No other public Pine script combines these elements with toggleable filters and a custom dashboard. In backtests (BTC/USD (Binance), 5 min, 24 Mar 2025 → 28 Apr 2025), adding these filters turned a –2.09 % standalone Williams R into a +5.05 % net winner while cutting maximum drawdown in half.
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What This Script Does
- Monitors Williams R (length 14) for overbought/oversold reversals.
- Applies up to five dynamic filters to confirm trend strength and volatility direction:
- Moving average (SMA/EMA/WMA/HMA)
- Supertrend line
- Choppiness Index (CI)
- Bollinger Band Width (BBW)
- Volume vs. its 50-period MA
- Plots blue arrows for Long entries (R crosses above –80 + all filters green) and red arrows for Short entries (R crosses below –20 + all filters green).
- Optionally sets dynamic ATR-based stop-loss (1.5×ATR) and take-profit (2×ATR).
- Shows a dashboard box with current position, equity, PnL, filter status, and real-time Williams R / MA/volume values.
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Backtest Summary (BTC/USD(Binance), 5 min, 24 Mar 2025 → 28 Apr 2025)
• Total P&L: +50.70 USD (+5.05 %)
• Max Drawdown: 31.93 USD (3.11 %)
• Total Trades: 198
• Win Rate: 55.05 % (109/89)
• Profit Factor: 1.288
• Commission: 0.01 % per trade
• Slippage: 0 ticks
Even in choppy March–April, this multi-filter approach nets +5 % with a robust risk profile, compared to –2.09 % and higher drawdown for Williams R alone.
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Williams R Alone vs. Multi-Filter Version
• Total P&L:
– Williams R alone → –20.83 USD (–2.09 %)
– Multi-Filter → +50.70 USD (+5.05 %)
• Max Drawdown:
– Williams R alone → 62.13 USD (6.00 %)
– Multi-Filter → 31.93 USD (3.11 %)
• Total Trades: 543 vs. 198
• Win Rate: 60.22 % vs. 55.05 %
• Profit Factor: 0.943 vs. 1.288
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Inputs & What They Control
- wrLen (14): Williams R look-back
- maType (EMA): Trend filter type (SMA, EMA, WMA, HMA)
- maLen (20): Moving-average period
- useChop (true): Toggle Choppiness Index filter
- ciLen (12): CI look-back length
- chopThr (38.2): CI threshold (below = trending)
- useVol (true): Toggle volume-above-average filter
- volMaLen (50): Volume MA period
- useBBW (false): Toggle Bollinger Band Width filter
- bbwMaLen (50): BBW MA period
- useST (false): Toggle Supertrend filter
- stAtrLen (10): Supertrend ATR length
- stFactor (3.0): Supertrend multiplier
- useSL (false): Toggle ATR-based SL/TP
- atrLen (14): ATR period for SL/TP
- slMult (1.5): SL = slMult × ATR
- tpMult (2.0): TP = tpMult × ATR
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How to Read the Chart
- Blue arrow (Long): Williams R crosses above –80 + all enabled filters green
- Red arrow (Short): Williams R crosses below –20 + all filters green
- Dashboard box:
- Top: position and equity
- Next: cumulative PnL in USD & %
- Middle: green/white dots for each filter (green=passing, white=disabled)
- Bottom: Williams R, MA, and volume current values
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Usage Tips
- Add the script: Indicators → My Scripts → Williams R Zone Scalper v1.0 → Add to BTC/USD chart on 5 min.
- Defaults: Optimized for BTC/USD.
- Forex majors: Raise `chopThr` to ~42.
- Stocks/high-beta: Enable `useBBW`.
- Enable SL/TP: Toggle `useSL`; stop-loss = 1.5×ATR, take-profit = 2×ATR apply automatically.
---
Common Questions
- *Why not trade every Williams R reversal?*
Raw Williams R whipsaws in sideways markets. Choppiness and volume filters reduce false entries.
- *Can I use on 1 min or 15 min?*
Yes—adjust ATR length or thresholds accordingly. Defaults target 5 min scalping.
- *What if all filters are on?*
Fewer arrows, higher-quality signals. Expect ~10 % boost in average win size.
---
Disclaimer & License
Trading carries risk of loss. Use this script “as is” under the Mozilla Public License 2.0 (mozilla.org/MPL/2.0/). Always backtest, paper-trade, and adjust risk settings to your own profile.
---
Credits & References
- Pine Script v6, using TradingView’s built-in `ta.supertrend()`.
- TradingView House Rules: tradingview.com/house-rules/
Goodluck!
BullByte
Unlike standard Williams R cross-over scripts, this strategy layers five dynamic filters—moving-average trend, Supertrend, Choppiness Index, Bollinger Band Width, and volume validation—and presents a real-time dashboard with equity, PnL, filter status, and key indicator values. No other public Pine script combines these elements with toggleable filters and a custom dashboard. In backtests (BTC/USD (Binance), 5 min, 24 Mar 2025 → 28 Apr 2025), adding these filters turned a –2.09 % standalone Williams R into a +5.05 % net winner while cutting maximum drawdown in half.
---
What This Script Does
- Monitors Williams R (length 14) for overbought/oversold reversals.
- Applies up to five dynamic filters to confirm trend strength and volatility direction:
- Moving average (SMA/EMA/WMA/HMA)
- Supertrend line
- Choppiness Index (CI)
- Bollinger Band Width (BBW)
- Volume vs. its 50-period MA
- Plots blue arrows for Long entries (R crosses above –80 + all filters green) and red arrows for Short entries (R crosses below –20 + all filters green).
- Optionally sets dynamic ATR-based stop-loss (1.5×ATR) and take-profit (2×ATR).
- Shows a dashboard box with current position, equity, PnL, filter status, and real-time Williams R / MA/volume values.
---
Backtest Summary (BTC/USD(Binance), 5 min, 24 Mar 2025 → 28 Apr 2025)
• Total P&L: +50.70 USD (+5.05 %)
• Max Drawdown: 31.93 USD (3.11 %)
• Total Trades: 198
• Win Rate: 55.05 % (109/89)
• Profit Factor: 1.288
• Commission: 0.01 % per trade
• Slippage: 0 ticks
Even in choppy March–April, this multi-filter approach nets +5 % with a robust risk profile, compared to –2.09 % and higher drawdown for Williams R alone.
---
Williams R Alone vs. Multi-Filter Version
• Total P&L:
– Williams R alone → –20.83 USD (–2.09 %)
– Multi-Filter → +50.70 USD (+5.05 %)
• Max Drawdown:
– Williams R alone → 62.13 USD (6.00 %)
– Multi-Filter → 31.93 USD (3.11 %)
• Total Trades: 543 vs. 198
• Win Rate: 60.22 % vs. 55.05 %
• Profit Factor: 0.943 vs. 1.288
---
Inputs & What They Control
- wrLen (14): Williams R look-back
- maType (EMA): Trend filter type (SMA, EMA, WMA, HMA)
- maLen (20): Moving-average period
- useChop (true): Toggle Choppiness Index filter
- ciLen (12): CI look-back length
- chopThr (38.2): CI threshold (below = trending)
- useVol (true): Toggle volume-above-average filter
- volMaLen (50): Volume MA period
- useBBW (false): Toggle Bollinger Band Width filter
- bbwMaLen (50): BBW MA period
- useST (false): Toggle Supertrend filter
- stAtrLen (10): Supertrend ATR length
- stFactor (3.0): Supertrend multiplier
- useSL (false): Toggle ATR-based SL/TP
- atrLen (14): ATR period for SL/TP
- slMult (1.5): SL = slMult × ATR
- tpMult (2.0): TP = tpMult × ATR
---
How to Read the Chart
- Blue arrow (Long): Williams R crosses above –80 + all enabled filters green
- Red arrow (Short): Williams R crosses below –20 + all filters green
- Dashboard box:
- Top: position and equity
- Next: cumulative PnL in USD & %
- Middle: green/white dots for each filter (green=passing, white=disabled)
- Bottom: Williams R, MA, and volume current values
---
Usage Tips
- Add the script: Indicators → My Scripts → Williams R Zone Scalper v1.0 → Add to BTC/USD chart on 5 min.
- Defaults: Optimized for BTC/USD.
- Forex majors: Raise `chopThr` to ~42.
- Stocks/high-beta: Enable `useBBW`.
- Enable SL/TP: Toggle `useSL`; stop-loss = 1.5×ATR, take-profit = 2×ATR apply automatically.
---
Common Questions
- *Why not trade every Williams R reversal?*
Raw Williams R whipsaws in sideways markets. Choppiness and volume filters reduce false entries.
- *Can I use on 1 min or 15 min?*
Yes—adjust ATR length or thresholds accordingly. Defaults target 5 min scalping.
- *What if all filters are on?*
Fewer arrows, higher-quality signals. Expect ~10 % boost in average win size.
---
Disclaimer & License
Trading carries risk of loss. Use this script “as is” under the Mozilla Public License 2.0 (mozilla.org/MPL/2.0/). Always backtest, paper-trade, and adjust risk settings to your own profile.
---
Credits & References
- Pine Script v6, using TradingView’s built-in `ta.supertrend()`.
- TradingView House Rules: tradingview.com/house-rules/
Goodluck!
BullByte
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.