Description:
The Ultimate Oscillator is a momentum oscillator designed to capture momentum across three different time frames. The multiple time frame objective seeks to avoid the pitfalls of other oscillators.
Calculation:
BP = Close - Minimum(Low or Prior Close).
TR = Maximum(High or Prior Close) - Minimum(Low or Prior Close)
Average7 = (7-period BP Sum) / (7-period TR Sum)
Average14 = (14-period BP Sum) / (14-period TR Sum)
Average28 = (28-period BP Sum) / (28-period TR Sum)
UO = 100 x [(4 x Average7)+(2 x Average14)+Average28]/(4+2+1)
Ultimate_Oscillator.mq4- (5.64 KiB) Downloaded 753 times
