Charts

Ultimate Oscillator (ULTOSC)

Description

The Ultimate Oscillator (ULTOSC) by Larry Williams is a momentum oscillator that incorporates three different time periods (i.e., Cycles) to improve the overbought and oversold signals.

When selecting the Ultimate Oscillator, you may configure the three different time periods by adding values in the Cycles settings.

Formula

ULTOSC = 100 \times \frac{(4 \times Average7)+(2 \times Average14)+Average28}{4+2+1}

Where:

\( Average7 = (7-period BP Sum) \div (7-period TR Sum) \)

\( Average14 = (14-period BP Sum) \div (14-period TR Sum) \)

\( Average28 = (28-period BP Sum) \div (28-period TR Sum) \)

\( BP = Buying Power = Close - Minimum(Low or Previous Close) \)

\( TR = True Range = Maximum(High or Previous Close) - Minimum(Low or Previous Close) \)