Ultimate Oscillator: Multi-Period Calculation and Adjustable Inputs
Summary
The document describes a ProBuilder implementation of Larry Williams’s Ultimate Oscillator for use in backtests and automated trading systems. It calculates buying pressure relative to true range over three lookback windows: a base period, twice that period, and four times that period. The three ratios are combined with weights that favor the shortest window. The example fixes the base period at 7 and draws reference levels at 30 and 70.
The post says the coded indicator matches the platform’s built-in version, while allowing the calculation to be used in automated systems. It also notes that the platform’s standard indicator keeps its period fixed at 7. No independent test results or trading performance are provided, and the document does not specify entry, exit, or risk rules. The oscillator is therefore presented as an indicator implementation, not as a complete trading strategy.
Key ideas
- The Ultimate Oscillator compares buying pressure with true range across three lookback lengths.
- The example weights the shortest period most heavily and uses a base period of 7.
- Reference levels are set at 30 and 70.
- The post reports that its coded output matches the platform version but supplies no trading performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.