Reversed Large Bars Strategy with Williams %R

This strategy script is ideal for volatile assets such as Natural Gas (NATGAS) or Crude Oil (WTI/Brent), which often exhibit strong price movements with high volume.

How It Works:
The strategy identifies short-term reversals after two consecutive large candles with significant volume, under specific conditions. It is based on the assumption that after strong directional moves, a temporary price exhaustion or reversal may occur.

Logic Breakdown:
Large Bar Detection:
A bar is considered “large” if its range (high – low) is significantly higher than the average (by a configurable percentage) and is accompanied by a spike in volume.

Two Consecutive Large Bars:
Entry is only considered when two large bars appear back-to-back — this strengthens the momentum signal.

Candle Type Filter:

For short entries: Two consecutive large bullish bars followed by a bullish candle → implies overextension upwards.

For long entries: Two consecutive large bearish bars followed by a bearish candle → implies overextension downwards.

Williams %R Filter:
The Williams %R oscillator adds confirmation based on overbought/oversold conditions:

Longs are allowed when %R is below the oversold level.

Shorts are allowed when %R is above the overbought level.

Ratio Logic:
A running percentage of bullish vs bearish large bars is tracked over a rolling period. This ensures entries are filtered based on broader context and trend dominance.

Stop Loss / Take Profit / Breakeven:
Each trade includes configurable SL/TP, and optional breakeven logic:

If unrealized profit exceeds a set percentage, SL is moved to entry (optionally with a buffer).