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RSI of WRO and WSO for Amibroker (AFL)
Rating:
3 / 5 (Votes 3)
Tags:
amibroker, timeframe
The following formula is an implementation of Widner’s support and resistance oscillators.
WRO and WSO were published by Mel Widner in 1996.
The time frames suggested are daily and hourly.
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Indicator / Formula
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///////////////////////// // RSI of WRO and WSO /// //////////////////////// TimeFrameSet(60*in1Minute); // WRO - WIDNER'S RESISTANCE OSCILLATOR p1=-4; p2=9; r1=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),1); r2=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),2); r3=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),3); r4=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),4); r5=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),5); r6=ValueWhen(Ref(L,p1)==LLV(L,p2),Ref(L,p1),6); r1m=Max(0,Min(1,int(r1/C))); r2m=Max(0,Min(1,int(r2/C))); r3m=Max(0,Min(1,int(r3/C))); r4m=Max(0,Min(1,int(r4/C))); r5m=Max(0,Min(1,int(r5/C))); r6m=Max(0,Min(1,int(r6/C))); WRO=100*(1-(r1m+r2m+r3m+r4m+r5m+r6m)/6); Plot(WRO,"",colorGreen,styleDashed); // WSO - WIDNER'S SUPPORT OSCILLATOR p1=-4; p2=9; s1=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),1); s2=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),2); s3=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),3); s4=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),4); s5=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),5); s6=ValueWhen(Ref(H,p1)==HHV(H,p2),Ref(H,p1),6); s1m=Max(0,Min(1,int(s1/C))); s2m=Max(0,Min(1,int(s2/C))); s3m=Max(0,Min(1,int(s3/C))); s4m=Max(0,Min(1,int(s4/C))); s5m=Max(0,Min(1,int(s5/C))); s6m=Max(0,Min(1,int(s6/C))); WSO=100*(1-(s1m+s2m+s3m+s4m+s5m+s6m)/6); Plot(WSO,"",colorRed,styleDashed); // AVERAGES + RSI x1=EMA(WRO,5); x2=EMA(WRO,10); x3=EMA(WRO,15); x4=(x1+x2+x3)/3; x5=RSIa(x4,5); y1=EMA(WSO,5); y2=EMA(WSO,10); y3=EMA(WSO,15); y4=(y1+y2+y3)/3; y5=RSIa(y4,5); z1=(x5+y5)/2; z2=EMA(z1,5); z3=Zig(x2,5); Cond=IIf(z3>Ref(z3,-1),colorGreen,colorRed); Plot(z3,"",Cond,8); Plot(15,"",colorBlue,1); Plot(85,"",colorBlue,1); PlotShapes(IIf(Cross(z3,15),shapeUpArrow,shapeNone),colorGreen); PlotShapes(IIf(Cross(85,z3),shapeDownArrow,shapeNone),colorRed);
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This formula is very good
Have you changed the formula on purpose or where a mistake?
WRO is based on HHV of Hs
WSO is based on LLV of Ls
and why insted of
z3=Zig(*Z2*,5);, you changed to z3=Zig(*x2*,5);?Correcting this erros the formula realy looks promissing.