Ultimate Oscillator Indicator
Platform: MT4 Type: Oscillator Last update: September 28, 2024The Ultimate Oscillator Indicator for MT4 was developed by Larry Williams. That oscillator applies a weighted average of values of three stochastic indicators defined on short, medium, and long periods. The length of periods is usually in the correlation 1:2:4 (doubling) or 1:2:3 (multiplicity).
Periods should be chosen according to the characteristics of a certain market. Recommended values are: 7-14-28 or 7-14-21. The indicator is in the oversold zone below the 30 value, and conversely, in the overbought zone above the 70 value. A trader should look for trade opportunities in these zones.
