Enhanced Widner Projection Bands - Mel Widner, Ph.D.
Everybody has heard of Bollinger banding right? Well, if you are looking for those, you have come to the wrong place. This is something very similar though! These are "Enhanced Widner Projection Bands" in the overlay panel employing PSv4.0, originally devised by Mel Widner, Ph .D. for an article in TASC - July of 1995 Traders Tips. This indicator is freely available for all members to use.
Also, this is a companion indicator for my "Projection Oscillator"(displayed underneath) using modified code from that. The projection bands visually display how the wave forms are generated for the "Projection Oscillator" when the period controls are matched between both indicators. You will then see how the alignments are correlated between the projection bands and the projection oscillator. In this script however, the upper and lower banding is controlled independently, but can be controlled tandemly by enabling an override. I decided to incorporate some of my banding technology as well, offering color schemes, line thickness, and transparency controls. I also discovered a way to improve 1px line dithering using a simple technique. Overall, it's fairly easy to use, so I won't elaborate beyond what you have read already.
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section if you do have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Also, this is a companion indicator for my "Projection Oscillator"(displayed underneath) using modified code from that. The projection bands visually display how the wave forms are generated for the "Projection Oscillator" when the period controls are matched between both indicators. You will then see how the alignments are correlated between the projection bands and the projection oscillator. In this script however, the upper and lower banding is controlled independently, but can be controlled tandemly by enabling an override. I decided to incorporate some of my banding technology as well, offering color schemes, line thickness, and transparency controls. I also discovered a way to improve 1px line dithering using a simple technique. Overall, it's fairly easy to use, so I won't elaborate beyond what you have read already.
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section if you do have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!