This strategy was featured in the April 2011 issue of Active Trader magazine.

Requires installed Community.Indicators library.

System Concept:
The idea behind this system, based on Widner Projection Bands, which combine characteristics of other bands with features of linear regression channels, is mean reversion: buying on a short-term price pullback in the expectation price will reverse direction.

Strategy rules:

1. Buy next bar at limit when price falls at least 3 percent below yesterday’s 14-day lower Projection Band value.
2. Sell at the market at next day’s open.