Support and Resistance Filters with a Moving Average Crossover and Wave Oscillator

Summary

The document describes a charting setup that combines support and resistance levels with two smoothed price lines and a wave oscillator. Its ProRealCode indicator calculates rolling highs and lows over two lookback windows, an exponential average of closing prices, a smoothed signal line, and an upper line based on standard deviation. The proposed entry cues are crossovers between the upper line and signal line, with the volume-wave oscillator providing additional context.

The oscillator compares closing price with a long weighted moving average and scales the percentage difference; the author associates its green and red zones with oversold and overbought conditions. The post explains display settings and color zones, but supplies no backtest, performance statistics, asset class, or timeframe. It also does not define how the stated crossover cues interact with the support and resistance levels, or provide risk controls. Treat the setup as an indicator recipe rather than evidence of a profitable strategy.

Key ideas

• The indicator plots rolling highs and lows over two different lookback windows as support and resistance references.
• It compares an exponential moving average with a smoothed signal line and a standard deviation adjusted upper line.
• The described entry cues depend on crossovers between the upper line and signal line.
• The wave oscillator measures closing price relative to a long weighted moving average.
• The post offers no performance evidence or detailed risk management rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.