The ability to gather physiological parameters such as heart rate (HR) and oxygen saturation (SpO2%) during physical movement allows to continuously monitor personal health status without disrupt their normal daily activities. Photoplethysmography (PPG) based pulse oximetry and similar principle devices are unable to extract the HR and SpO2% reliably during physical movement due to interference in the signals that arise from motion artefacts (MAs). In this research, a flexible reflectance multi-wavelength optoelectronic patch sensor (OEPS) has been developed to overcome the susceptibility of conventional pulse oximetry readings to MAs. The OEPS incorporates light embittered diodes as illumination sources with four different wavelengths, e.g. green, orange, red, and infrared unlike the conventional pulse oximetry devices that normally measure the skin absorption of only two wavelengths (red and infrared). The additional green and orange wavelengths were found to be distinguish to the absorption of deoxyhemoglobin (RHb) and oxyhemoglobin (HbO2). The reliability of extracting physiological parameters from the green and orange wavelengths is due to absorbed near to the surface of the skin, thereby shortening the optical path and so effectively reducing the influence of physical movements. To compensate of MAs, a three-axis accelerometer was used as a reference with help of adaptive filter to reduce MAs. The experiments were performed using 15 healthy subjects aged 20 to 30. The primary results show that there are no significant difference of heart rate and oxygen saturation measurements between commercial devices and OEPS Green (r=0.992), Orange(r=0.984), Red(r=0.952) and IR(r=0.97) and SpO2% (r = 0.982, p = 0.894).