Williams %R Strategy

Script from: TradingViewSwingMomentumTrend following

The Williams %R Strategy employs the momentum-based Williams Percent Range indicator to pinpoint overbought and oversold market conditions. Signals to initiate or exit trades are based on the indicator's cross above the oversold level for buying and below the overbought level for selling. Practical position management and risk control are advised by allocating only 10% of initial capital to each position, and using the strategy along with other technical analysis tools for enhanced decision-making.

Audit verdict

Not rankedUpdated Jul 28, 2026

No reliable edge found

Its average result can't be told apart from chance, so it stays out of our rankings. The script itself passed our repainting audit.

2,109backtests3 markets

30robust scoreranked median 52

0.23p-valueranked median 0.24

0/130pass quality gatebacktests >15 trades

Audit details

How we decide whether a strategy enters our rankings. Read the methodology →

✓

Repainting audit

8 of 8 checks passed.

✓

Script availability

Open-source, still published on TradingView.

Statistical edge

Average t-statistic 1.91 (p = 0.23), below the median of 1.98 (p = 0.24) for ranked strategies.

Quality gate

None of the 130 backtests with more than 15 trades passes our quality gate.

Robust score

30/100, below the median of 52 for ranked strategies.

How its evidence compares

The t-statistic measures how far the average result sits from zero relative to its noise. Below about 2, it is within what random entries produce.

1.91

avg. t-statistic

1.98

median, ranked strategies

Best 5 of 2,109 backtests

Shown for transparency.

Symbol	Timeframe	Net profit	Profit factor	Trades	Max drawdown
Riot Platforms, Inc. NASDAQ:RIOT	4H	+10,499%	1.39	254	93%
General Motors Company NYSE:GM	2H	+8,228%	1.24	351	81%
Bank of America Corporation NYSE:BAC	2H	+1,478%	1.33	503	56%
Charles Schwab Corporation (The) NYSE:SCHW	2H	+1,407%	1.29	523	61%
Alphabet Inc. NASDAQ:GOOG	2H	+1,277%	2.16	324	24%

⚠Selected after the fact: these are the best 5 of 2,109 runs, not what to expect from this strategy.

Is Williams %R Strategy profitable?

Not reliably, based on our tests. Across 2,109 backtests, 0 of 130 with more than 15 trades pass our quality gate. The best result is +10,499% on Riot Platforms, Inc. (4H, 254 trades). On average, its results are statistically indistinguishable from chance (p = 0.23).

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