A novel method of extracting heart rate and oxygen saturation from a video-based biosignal is described. The method comprises a novel modular continuous wavelet transform approach which includes: performing the transform, undertaking running wavelet archetyping to enhance the pulse information, extraction of the pulse ridge time–frequency information [and thus a heart rate (HR_vid) signal], creation of a wavelet ratio surface, projection of the pulse ridge onto the ratio surface to determine the ratio of ratios from which a saturation trending signal is derived, and calibrating this signal to provide an absolute saturation signal (S_vidO₂). The method is illustrated through its application to a video photoplethysmogram acquired during a porcine model of acute desaturation. The modular continuous wavelet transform-based approach is advocated by the author as a powerful methodology to deal with noisy, non-stationary biosignals in general.