A Williams %R Strategy for One-Minute Forex Trading
Summary
This document describes a forex expert advisor that checks for Williams %R signals when a new bar appears. It sells when the indicator is in an overbought zone and buys when it is in an oversold zone. The position size is fixed by a Lots parameter, and stop loss, take profit, and trailing stop settings can each be disabled. A time window can restrict when the advisor opens trades, and an option can close positions in the opposite direction when a new signal appears.
The document identifies EURUSD on a one-minute chart and mentions testing with real ticks, but provides no performance results, parameter values, or detailed validation. It therefore explains the trading rules and configurable controls without establishing whether the strategy is profitable or robust. The signal is evaluated on the current bar, and the description does not clarify how that choice handles intrabar changes or whether the entry timing introduces sensitivity to fast price moves. Traders would need independent testing and risk controls before drawing conclusions about its effectiveness.
Key ideas
- The advisor checks for entry signals when a new bar appears.
- It sells in the Williams %R overbought zone and buys in the oversold zone.
- Trade size is set by a fixed Lots parameter.
- Stop loss, take profit, trailing stop, and trading hours are configurable.
- An optional setting closes positions facing the opposite direction.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.