Does Williams %R bounce actually work on XOM? We tested it

This strategy made money, turning a 44.59% total return over 26 trades, and it did so with a high win rate of 69.23%, meaning most trades were winners. The ride was fairly steady, with a Sharpe ratio of 0.56, but it had one painful stretch where the account dropped 12.27% in early March 2023, which was the worst drawdown. The result is not driven by just a few lucky trades, as the entry timing edge is strong, with real entries beating 96% of random entry runs, so the entry signal itself is doing the heavy lifting. The edge also shows up consistently, as the strategy was profitable in 3 out of 4 walk-forward test periods, meaning the performance came from steady execution rather than one hot streak. Overall, this is a reliable setup that works well when the Williams %R bounces off the oversold zone while the price is above the 200-day moving average.