Ultimate Oscillator is a technical indicator, which was developed by Larry Williams in 1976 to measure an asset price momentum on multiple timeframes. Using the weighted average of three different timeframes, the indicator has a lower volatility and less trading signals in comparison with other oscillators, which use one timeframe. Buy and sell signals generate after divergences. Ultimate Oscillator generates less divergence signals than other oscillators, through its multi-timeframe construction.
The indicator view in the chart.
The indicator has the following parameters:
Settings
Period 1 - setting of the first period of search for peak values.
Period 2 - setting of the second period of search for peak values.
Period 3 - setting of the third period of search for peak values.
Drawing
Panel - selection of the indicator location in the chart:
- New panel
- Chart
Visualization
Show value - display of the indicator value on the price scale on the left.
Scale/Auto-scaling - if this option is on, the scale will be automatically calculated, based on the minimum and maximum indicator values, so that the indicator would fit in the chart.
Color - color setting of the indicator.
Visual type - visual setting of the indicator display in the chart:
- Line
- Histogram
- Hash
- Block
- Cross
- Square
- Dots
- Up arrow
- Down arrow
- Axis label
- Hide
Line style - setting of the line display style:
- Solid
- Dash
- Dash - dot
- Dash - dot - dot
Width - setting of the indicator line width.
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