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You liked the script? Try it in the MetaTrader 5 terminal
WSO & WRO Channel - indicator for MetaTrader 5
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- Published:
- 2018.05.02 16:36
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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 ExponentThe 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 BandsThis is the version that David Rooke proposes as a solution to Bollinger Bands issues.