LRS Williams R Script

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-- SPDX-License-Identifier: MIT
-- IQOptionWiki QCS Library
-- IQOW LRS Williams R v1.0.0
--
-- Combines the Linear Regression Slope(100) with Williams %R(14). The slope is
-- the one-candle change of the 100-candle linear regression line (official
-- Quadcode formula): above zero the regression line rises, below zero it
-- falls. Williams %R leaving its extreme zone gives the timing.
--
-- HIGHER: the slope is above zero and Williams %R closes above -80 after
--         being at or below -80 on the previous candle.
-- LOWER:  the slope is below zero and Williams %R closes below -20 after
--         being at or above -20 on the previous candle.
--
-- Markers use the previous completed candle: they appear after the next candle
-- opens and are shifted back one bar onto the candle that qualified.
-- Educational chart tool only. It does not place trades, choose an expiry,
-- predict outcomes, or guarantee results. Test on a Practice balance first.

instrument {
    name = "IQOW LRS Williams R",
    short_name = "IQOW LRS %R",
    overlay = true
}

input_group {
    "1. Linear regression slope",
    slope_period = input (100, "Regression period", input.integer, 5, 500)
}

input_group {
    "2. Williams %R",
    williams_period = input (14, "Williams %R period", input.integer, 2, 100),
    oversold_level = input (-80, "Oversold level", input.double, -99, -51, 1, false),
    overbought_level = input (-20, "Overbought level", input.double, -49, -1, 1, false)
}

input_group {
    "Display and advice",
    regression_visible = input { default = true, type = input.plot_visibility },
    signals_visible = input { default = true, type = input.plot_visibility },
    advice_enabled = input { default = false, name = "Enable platform advice", type = input.boolean }
}

input_group {
    "Colors",
    regression_color = input { default = "#DBCF0D", type = input.color },
    regression_width = input { default = 2, type = input.line_width },
    higher_color = input { default = "#25E154", type = input.color },
    lower_color = input { default = "#FF6C58", type = input.color },
    signal_text_color = input { default = "#FFFFFF", type = input.color }
}

-- Linear regression line and its slope (value now minus value one bar back).
regression_line = linreg (close, slope_period, 0)
regression_slope = regression_line - linreg (close, slope_period, 1)

-- Williams %R: close position inside the recent range, -100..0.
highest_high = highest (high, williams_period)
lowest_low = lowest (low, williams_period)
williams_r = iff (
    highest_high > lowest_low,
    100 * (close - highest_high) / max (highest_high - lowest_low, 1e-10),
    -50
)

-- Current-bar scalars for the Lua rule logic.
local slope_now = get_value (regression_slope, nil)
local williams_now = get_value (williams_r, nil)
local williams_previous = get_value (williams_r [1], nil)

local levels_are_valid = oversold_level < overbought_level

local has_history = get_value (close [slope_period], nil) ~= nil

local data_is_ready =
    levels_are_valid and
    has_history and
    slope_now ~= nil and
    williams_now ~= nil and
    williams_previous ~= nil

-- Event: %R closes back across its level while the slope has the same sign.
higher_setup = conditional (
    data_is_ready and
    slope_now > 0 and
    williams_previous <= oversold_level and
    williams_now > oversold_level
)

lower_setup = conditional (
    data_is_ready and
    slope_now < 0 and
    williams_previous >= overbought_level and
    williams_now < overbought_level
)

-- Confirm only a new setup on the previous completed candle.
confirmed_higher = conditional (
    get_value (higher_setup [1], false) and
    not get_value (higher_setup [2], false)
)

confirmed_lower = conditional (
    get_value (lower_setup [1], false) and
    not get_value (lower_setup [2], false)
)

if regression_visible then
    plot (regression_line, "Linear regression", regression_color, regression_width)
end

if signals_visible then
    plot_shape (
        confirmed_higher,
        "LRS %R HIGHER",
        shape_style.triangleup,
        shape_size.small,
        higher_color,
        shape_location.belowbar,
        -1,
        "HIGHER",
        signal_text_color
    )

    plot_shape (
        confirmed_lower,
        "LRS %R LOWER",
        shape_style.triangledown,
        shape_size.small,
        lower_color,
        shape_location.abovebar,
        -1,
        "LOWER",
        signal_text_color
    )
end

-- QCS advice is a platform notification state only; it does not place trades.
if advice_enabled and
    get_value (confirmed_higher, false) and
    not get_value (confirmed_lower, false) then
    advise (advice.buy)
elseif advice_enabled and
    get_value (confirmed_lower, false) and
    not get_value (confirmed_higher, false) then
    advise (advice.sell)
else
    advise (advice.neutral)
end