ULT
Ultimate Oscillator
Description
Developed by Larry Williams and first described in
a 1985 article for Technical Analysis of Stocks and Commodities magazine, the
"Ultimate" Oscillator combines a stock's price action during three different
time frames into one bounded oscillator. Values range from 0 to 100 with 50 as
the center line. Oversold territory exists below 30 and overbought territory
extends from 70 to 100.
Category
Oscillator Indicators
Parameters
N1 ( Default: 7
Min: 1 Max: 100 )
N2 ( Default: 14
Min: 1 Max: 100 )
N3 ( Default: 28
Min: 1 Max: 100 )
Chart Script
LC :=REF(C,1);
TL :=MIN(L,LC);
BP :=C-TL;
TR :=
MAX(H-L,ABS(LC-H),ABS(LC-L));
BPSum1 := MA(BP,N1);
BPSum2 :=
MA(BP,N2);
BPSum3 := MA(BP,N3);
TRSum1 := MA(TR,N1);
TRSum2 :=
MA(TR,N2);
TRSum3 := MA(TR,N3);
RawUO
:=4*(BPSum1/TRSum1)+2*(BPSum2/TRSum2)+(BPSum3/TRSum3);
(RawUO/(4+2+1))*100,Width1.6,HighQuality;