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Ultimate Oscillator by Larry Williams
Rev. 04/29/97 "The trouble for most oscillator workers was, and has continued to be,
that while frequently oscillatorslead sometimes they lead far too early and, instead of buying a bottom,you are buying falling daggersand getting sliced up. Even the best oscillators consistently givepremature buy and sell signals.I believe my "Ultimate Oscillator" corrects this", stated by Larry Williams, in the Apr 85 issue of Technical Analysis of Stocks & Commodities.

To create the Ultimate Oscillator as a custom formula, in MetaStock, create the following custom formulas.

*** The first formula is the only formula that is plotted. In MetaStock for Windows versions 5.0and above include the Ultimate Oscillator as a built in indicator.

Ultimate Osc
( ( ( Fml("Div_7")*4)+(Fml("Div_14")*2)+Fml("Div_28" )) / 7 )*100

TrueR : True Range
Max( ( C - L ) , ( C - Ref( L ,-1 ) ))

TotalA : Total Activity
Max( Max( ( H - L ) ,H - Ref( L ,-1 ) ) ,Max( ( Ref( H ,-1) - L ) ,(Ref( H ,-1 ) - Ref( L,-1) ) ) )

True_7 : Summation (7) of True Range
Sum( Fml( "TrueR" ) ,7 )

Total_7 : Summation (7) of Total Activity
Sum( Fml( "TotalA" ) ,7 )

Div_7 : Division of 7 days
Fml( "True_7" ) / Fml( "Total_7" )

True_14 : Summation (14) of True Range
Sum( Fml( "TrueR" ) ,14 )

Total_14 : Summation (14) of Total Activity
Sum( Fml( "TotalA" ) ,14 )

Div_14 : Division of 14 days
Fml( "True_14" ) / Fml( "Total_14" )

True_28 : Summation (28) of True Range
Sum( Fml( "TrueR" ) ,28 )

Total_28 : Summation (28) 0f Total Activity
Sum( Fml( "TotalA" ) ,28 )

Div_28 : Division of 28 days
Fml( "True_28" ) / Fml( "Total_28" )


All in One

 

Ultimate Oscillator

(((((Sum((Max((C - L) , (C - Ref(L,-1)))),7)) /
(Sum((Max(Max((H - L) ,H - Ref(L ,-1)) ,Max(( Ref(H ,-1) - L) , (Ref(H ,-1) - Ref(L,-1))))) ,7)))*4)+
(((Sum((Max((C - L) , (C - Ref(L ,-1) ))),14)) /
(Sum((Max(Max((H - L) ,H - Ref(L ,-1)) ,Max(( Ref(H ,-1) - L) , (Ref(H ,-1) - Ref(L,-1))))) ,14)))*2)+
((Sum((Max(( C - L) , (C - Ref( L ,-1) ))),28)) /
(Sum((Max( Max(( H - L) ,H - Ref( L ,-1)) ,Max(( Ref(H ,-1) - L) , (Ref(H ,-1) - Ref(L,-1))))) ,28))))/ 7) * 100

 

Source / From: TOP
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