The Ultimate Oscillator (Ultimate Oscillator), proposed by Larry Williams is calculated as weighted value of three Stochastic indicators, calculated for fast, middle and short periods. The periods ratio is selected as follows 1:2:4 (doubling) or 1:2:3. The periods depend on market. The recommeneded values are: 7-14-28 or 7-14-21.
Larry Williams recommend to open position after formation of divergence.
Close long positions:
Close short positions:
This indicator was first implemented in MQL4 and publised in Code Base 09.02.2007.
The indicator uses the classes from SmoothAlgorithms.mqh library, described in article "Averaging Price Series for Intermediate Calculations Without Using Additional Buffers".
Ultimate Oscillator indicator
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/792
Internal Bar Strength Indicator measures the "inner strength" of each bar by subtracting the close price from the low and dividing the resulting number by the difference between high and low bars.X2MA_KLx3_Cloud
Keltner Channel displayed as colored background.