Williams R Zone Scalper v1.0[BullByte] — Strategy by BullByte

By BullByte

Performance Metrics

Description

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.---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 & LicenseTrading 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

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