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Ultimate Oscillator
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=897
Forum: 17 · Topic 897 · 2 post(s)
Ultimate Oscillator
Alexander.Gettinger · Fri Apr 30, 2010 11:30 am
The values of the indicator vary in a range from zero to 100 and the center is the 50 value. Values below 30 correspond with the overbought zone, and values between 70 and 100 - with the oversold zone.
Calculation:
1.Define current “True Low” (TL) — the least of two values: the current minimum and the precious closing price.
| TL (i) = MIN (LOW (i) | CLOSE (i - 1)) |
2.Find current “Buying Pressure” (BP). It is equal to the difference between current closing price and current True Low.
BP (i) = CLOSE (i) - TL (i)
3.Define the “True Range” (TR). It is the greatest of the following differences: current maximum and minimum; current maximum and previous closing price; current minimum and previous closing price.
| TR (i) = MAX (HIGH (i) - LOW (i) | HIGH (i) - CLOSE (i - 1) | CLOSE (i - 1) - LOW (i)) |
4.Find the sum of BP values for all three periods of calculation:
BPSUM (N) = SUM (BP (i), i)
5.Find the sum of TR values for all three periods of calculation:
TRSUM (N) = SUM (TR (i), i)
6.Calculate the “Raw Ultimate Oscillator” (RawUO)
RawUO = 4 * (BPSUM (1) / TRSUM (1)) + 2 * (BPSUM (2) / TRSUM (2)) + (BPSUM (3) / TRSUM (3))
7.Calculate the “Ultimate Oscillator” (UO) value according to the formula:
UO = ( RawUO / (4 + 2 + 1)) * 100
Where: MIN — means the minimum value; MAX — the maximum value; || — a logical OR; LOW (i) — the minimum price of the current bar; HIGH (i) — the maximum price of the current bar; CLOSE (i) — the closing price of the current bar; CLOSE (i — 1) — the closing price of the previous bar; TL (i) — the True Low; BP (i) — the Buying Pressure; TR (i) — the True Range; BPSUM (N) — the mathematical sum of BP values for an n period (N equal to 1 corresponds with i=7 bars; N equal to 2 corresponds with i=14 bars; N equal to 3 corresponds with i=28 bars); TRSUM (N) — the mathematical sum of TR values for an n period (N equal to 1 corresponds with i=7 bars; N equal to 2 corresponds with i=14 bars; N equal to 3 corresponds with i=28 bars); RawUO — “Raw Ultimate Oscillator”; UO — stands for Ultimate Oscillator.
The indicator was revised and updated
Re: Ultimate Oscillator
Apprentice · Mon Dec 26, 2016 7:29 am
Indicator was revised and updated.