Widner Support and Resistance Oscillators for Price-Level Changes
Summary
The document introduces two indicators derived from an article on automated support and resistance: the Widner Support Oscillator (WSO) and Widner Resistance Oscillator (WRO). Each compares the current closing price with the six most recent levels of its respective type and expresses the comparison on a scale from 0 to 100. A reading of zero means price is below all six levels; 100 means it is above all six.
Changes in either oscillator are presented as clues that a level may have been broken or a new one established. The text gives the indicators’ interpretation but omits the formulas, so it does not explain how support and resistance levels are identified or how intermediate oscillator values are calculated. It also provides no trading rules, test results, or guidance on combining the readings with other signals; the oscillators should therefore be treated as descriptive tools rather than validated standalone strategies.
Key ideas
- WSO compares the close with the six latest support levels.
- WRO compares the close with the six latest resistance levels.
- Both oscillators range from 0 to 100 according to how price relates to the selected levels.
- A change in an oscillator can indicate that a level was broken or a new level formed.
- The document omits calculation formulas and empirical performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.