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Ultimate_Oscillator.mq5 (10.7 KB) view

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The Ultimate Oscillator indicator is based on three momentum indicators of different periods: week, two weeks and three weeks.

It has five input parameters:

Calculation:

UltimateOsc = 100.0 * ((4.0*Avg1) + (2.0*Avg2) + Avg3) / (4+2+1)

where:

Avg1 = SumBP1 / SumTR1
Avg2 = SumBP2 / SumTR2
Avg3 = SumBP3 / SumTR3

SumBP1 - BP sum over the First momentum period
SumTR1 - TR sum over the First momentum period

SumBP2 - BP sum over the Second momentum period
SumTR2 - TR sum over the Second momentum period

SumBP3 - BP sum over the Third momentum period
SumTR3 - TR sum over the Third momentum period

BP = Close - Minimum(Low, PrevClose)
TR = Maximum(High, PrevClose) - Minimum(Low, PrevClose)

Translated from Russian by MetaQuotes Ltd.
Original code: https://www.mql5.com/ru/code/23116

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