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Momentum

Ultimate Oscillator

UO

Combines buying pressure (close minus true low) relative to true range across three timeframes (default 7, 14, 28) using weights of 4, 2, and 1. The multi-timeframe approach reduces false divergence signals common in single-period oscillators.

Tips

Larry Williams’ original buy rule requires bullish divergence followed by UO rising above the divergence high; the sell rule is symmetric
Above 70 is overbought; below 30 is oversold—but divergence signals are far more reliable than simple level thresholds

Parameters

Short Period
1 - 20
Medium Period
2 - 40
Long Period
2 - 100