Ultimate OscillatorThe Ultimate Oscillator is constructed by comparing the how high each periods close is above the periods low, and dividing that by the periods range, (the high minus the low). The Ultimate Oscillator then formed by the sum three of the above constructions over 3 different adte ranges, and is then normalized to be in the range between 0 and 100.
Using the edit button in the studies tab, you may choose each the three date ranges.
The Ultimate Oscillator is traded by looking for divergences. If the Ultimate Oscillator starts falling with maxima each lower than the last, but the symbols price is still continuing upwards with higher highs, the trend is weakening and it may be time for the stock to turn around. Similarly when the Ultimate Oscillator starts rising with minima each higher than the last, but the symbols price is still continuing downwards, with lower lows, it may be time for stock to turn around.