Motivated by recent experimental measurements on the low-frequency binary (Ar)(2) depolarized spectrum, a fully quantum frequency-resolved analysis of spectral intensities from bound, metastable and free argon diatoms is performed in collision-induced light scattering. The methodology is based on an analytical discrete variable representation (DVR) allowing the reliable and systematic computation of all bound and resonance state energies and wave functions as well as of the discretized low-energy continuum associated to any rotational level.