Hrly BB Williams%R strategy

I wanted to find a strategy with following criteria:
- Simple (fewer than 3 indis)
- Can be done on mt4 mobile
- Does not use discretion
- Is profitable (duh)

CHART setup:
- BB (standard settings 20 and 2, no shift)
- Williams %R (14 periods. Lines at -40 and -60)
- Hourly candle

LONG entry conditions
1. Price starts below MA of BB then crosses and closes above the MA (candle 0)
2. Williams %R between -40% and 0 (candle 0)
3. Enter long at start of next candle (candle 1)
4. TP at upper BB level of candle 0
5. SL at low of candle 0

SHORT
1. Opposite of above except Williams between -60 and -100

Additional rules:
1. Move SL to BE+1 after a candle closes >=3 pips in your favour
2. Do NOT enter if high of candle 0 is above upper BB

Screenshot of backtesting results attached (hourly only. EURUSD only)

Example screenshots to follow.

Posting for two reasons:
1. Input to improve strategy
2. Someone might feel generous and make an EA for it so I can backtest more

Jus get a more clear picture, can post some screenshots, I can able make EA

Sure here we go...
Hopefully these are clear but if not I'll post more when I finish work in 8 hours or so.

Thank you for your offer Prasantha61. Very generous offer! I think we have a potentially great strategy!

Betty

Couple more screen shots:
A long loser which is followed immediately by a short winner
A long winner which only just won when the candle wicked up and hit upper BB level

The reason I have only backtested EURUSD is because I have heard it is a very heavily traded pair. I have done some informal backtesting on USDJPY but not written up any results for this. Performance seemed similar but cannot make a judgement without writing up any results.

I do not have much time in my lifestyle to backtest more intensively so just chip away when I can.

Something I have noticed is that if I increase the Williams %R to a longer time frame than 14, it filters out some losers and filters out small winners. Backtesting needed!

I may backtest the same dataset (EURUSD from Sept 2020 back to Oct 2019) with some different W%R settings in the near future.

Betty

Will be so cool, to see this setup works in the backtest!
I believe it's possible to get profitable combination of the parameters for the past year. But robust out of sample result less possible...

Instinct says no, strategy says go... Discretion free lifestyle. Will post update...

Thanks NarcissNoir.

Yes I was surprised at the findings of the backtesting and that is always a problem with testing... does your sample represent the whole population?

I want to try to improve the strategy but I don't want to change it to fit a particular data set (e.g. EURUSD from sep 2020 to aug 2019)...

Hmm

In safety zone now... +1

Stopped out +1

I entered trade hear USDCAD lets see what happen

Hello MyNameBetty,

Not so bad !

Attached Image (click to enlarge)

Enjoy the Week-End