The Projection Oscillator was created by Mel Widner (Stocks and Commodities Jul 1995) and this is another hidden gem that is of course a great complementary indicator to my previous Projection Bands . I would recommend to use both on the same chart so you get the full array of information. This indicator tells you where the current price falls between the bands...
The Mobility Oscillator was created by Mel Widner (Stocks and Commodities Feb 1996) and this is another of my ongoing series of undiscovered gems. I would say this is probably the most complicated script I have written for an indicator. It is extremely complicated to calculate comparing to other indicators but this is essentially an overbought and oversold...
The Projection Bandwidth was created by Mel Widner (Stocks and Commodities Jul 1995) and this is another of my series of indicators that I consider undiscovered gems. For those of you who are unaware, the Bandwidth indicator measures the distance between the high and low bands and if you remember from my Projection Bands script, the Projection Bands give pretty...
The Projection Bands were created by Mel Widner (Stocks and Commodities Jul 1995) and this indicator and the other two that rely on this one (I will publish them later) are very underappreciated in my humble opinion. The biggest strength of this indicator is the fact that it is a leading indicator for dramatic price movements. As you can see in my example chart it...
Level: 1
Background
This indicator/formula was presented in the May 1998 issue of the ‘Technical Analysis of Stocks and Commodities’ magazine. The article was titled “Automatic support and resistance” the article described an approach to finding support and resistance levels on a chart.
Function
Support and resistance analysis is a proven method for...
For any Mel Widner, Ph.D fans out there, I present this decades old "Projection Oscillator" employing PSv4.0, originally formulated by Mel Widner for TASC - July of 1995 Traders Tips. Just when you may have thought it was the end of the evolutionary line for Mel Widner technology, it's not! Basically it's a hybridization of linear regression, banding, and a...
![AAPL: Projection Oscillator [CC]](https://s3.tradingview.com/0/0jbAvmb0_mid.png "Projection Oscillator [CC]")
![AAPL: Mobility Oscillator [CC]](https://s3.tradingview.com/i/IeCrPw1E_mid.png "Mobility Oscillator [CC]")
![AAPL: Projection Bandwidth [CC]](https://s3.tradingview.com/m/m1ur21A7_mid.png "Projection Bandwidth [CC]")
![AAPL: Projection Bands [CC]](https://s3.tradingview.com/k/kHDxUjLs_mid.png "Projection Bands [CC]")
![BTCUSDT: [blackcat] L1 Mel Widner Auto Support and Resistance](https://s3.tradingview.com/1/1m3uxQyF_mid.png "[blackcat] L1 Mel Widner Auto Support and Resistance")
