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Views:: 5526
Rating:: (17)
Published:: 2018.05.02 16:36

Wso and Wro channel.mq5 (7.78 KB) view

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Indicator based on "Automated Support And Resistance" article by Mel Widner published in TASC.

This version shows channel on chart instead of displaying oscillator values in a separate window. That way it can be effectively used for support and resistance handling.

WSP & WRO

WSO (Widner Support Oscillator) and WRO (Widner Resistance Oscillator).

Hurst Exponent

The Hurst exponent is referred to as the "index of dependence" or "index of long-range dependence". It quantifies the relative tendency of a time series either to regress strongly to the mean or to cluster in a direction.

Linear Regression Study

Linear regression line with an addition of standard error channel projection.

Volatilty Bands

This is the version that David Rooke proposes as a solution to Bollinger Bands issues.

WSO & WRO Channel - indicator for MetaTrader 5