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.
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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
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.