Description
The Ultimate Oscillator is a study that turns a stock price action related to three different time frames into a single oscillator. The three time frames represent short, intermediate and long term market cycles.
The Ultimate Oscillator is calculated by finding the average position of the Close price in the True Range represented on the 0 to 100 scale for each period, and then finding the weighted average of the three values. The greatest weight is given to the short-term average, and the least weight is given to the long-term average.
Input Parameters
| Parameter | Description |
|---|---|
fast length
|
The number of bars in the short term period. |
med length
|
The number of bars in the intermediate term period. |
slow length
|
The number of bars in the long term period. |
Plots
| Plot | Description |
|---|---|
UltOsc
|
The Ultimate Oscillator study. |
Example*
*For illustrative purposes only. Not a recommendation of a specific security or investment strategy.