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|Support & Resistance > Support-Resistance [Indicators]
Article/Author: "Automated Support and Resistance", Mel Widner, Ph.D., S&C Magazine, Traders Tips, 05/1998
Consequently, WSO and WRO can cross, but this is very uncommon.
Enter long when support is strong and resistance is weak or enter when support is building.
I.e.: Enter long if WSO > simple moving average of WSO for the previous four bars or enter long if simple moving average of WRO for previous 30 days > 95
Go short vice versa.
Strength - pecifies required number of bars on either side of swing bar
Length - number of bars to calculate
INPUTS: STRENGTH(4), LENGTH(6);