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Apply an Ultimate Oscillator Indicator

The Ultimate Oscillator combines the price action for three different time frames. You set the observations periods 1, 2, and 3 when you create the study.

Time Frames:

• true low = min(low or prev close)
• buying pressure = close - true low
• true range = max(high - low, high - prev close, prev close - low)

Buying pressure sum 1, buying pressure sum 2 and buying pressure sum 3 are calculated by adding up buying pressures for 3 different time frames.

The same applies to the true range sum 1, 2 and 3.

raw ultimate oscillator = 4 * (buying pressure sum 1 / true range sum 1)

+ 2 * (buying_pressure_sum_2 / true_range_sum_2) + (buying_pressure_sum_3 / true_range_sum_3)

ultimate oscillator = raw ultimate oscillator / (4 + 2 + 1) ) * 100

To apply a Ultimate Oscillator indicator

1. From within a chart, from the Edit menu select Studies.
2. Choose Ultimate Osc. and Add the study.
3. Complete parameters as necessary.

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