Ultimate Oscillator Expert Advisor Setup - Setting Up Ultimate Oscillator Expert Advisor

Ultimate Oscillator Expert Advisor Setup - Setting Up Ultimate Oscillator Expert Advisor - A trader can come up with an Ultimate Oscillator Expert Advisor based on the Ultimate Oscillator indicator explained below.

Ultimate Oscillator Expert Advisor rules can be combined with other Forex technical indicators to come up with other EA Robots that trade using rules based on two or more indicators combined to form a trading system.

Ultimate Oscillator Technical Analysis and Ultimate Oscillator Signals

Originally developed and used to trade stocks & commodities markets.

This oscillator aims at striking a balance between leading signals and lagging signals given by the common indicators.

Leading - some indicators lead the market and give signals earlier than the optimum time
Lagging - some indicators lag the market so far that half of the move is over before a signal is generated.

This is the balance that the oscillator aims to strike, not to lead too much or lag too much - this way the oscillator will always give a signal at the ultimate time, thus its name.

Ultimate Oscillator Indicator - Setting Up Ultimate Oscillator EA

Ultimate Oscillator Expert Advisor Setup

This indicator uses 3 different n-number of candlesticks and calculates the combined weighted sums of price action from these candlesticks and plots these values a scale ranging from 0 to 100. Values of above 70 are considered to be overbought levels while values of below 30 are considered to be oversold levels.

The time periods used to calculate the ultimate oscillator are 7 periods (short term trend), 14 periods (intermediate term trend) & 28 periods (long term trend).