The oscillator ultimate is the invention of larry williams who wanted to overcome the weakness of a fixed time horizon that all the oscillators had.
"An oscillator with a fixed time horizon makes increasing" false signals "failing to identify the different chronological price cycles."
the ultimate combines 3 of different time series oscillators.
TYPE OF CALCULATION
[4((B7/TR7)+2(B14/TR14)+(B28/TR28)] / 7
Where TR= the true low low which is the lowest one of the two current low or close yesterday.
Β= Buying pressure by subtracting the actual low TR from today's closing.
the levels are 0.7 0.3 (70-30) similar to RSI and 50 the equilibrium point.
let's see it in M4
"An oscillator with a fixed time horizon makes increasing" false signals "failing to identify the different chronological price cycles."
the ultimate combines 3 of different time series oscillators.
TYPE OF CALCULATION
[4((B7/TR7)+2(B14/TR14)+(B28/TR28)] / 7
Where TR= the true low low which is the lowest one of the two current low or close yesterday.
Β= Buying pressure by subtracting the actual low TR from today's closing.
the levels are 0.7 0.3 (70-30) similar to RSI and 50 the equilibrium point.
let's see it in M4