Ultimate Oscillator:
This is a range-bound indicator, which means the value fluctuates between 0 and 100. Similar to the RSI, levels below 30 are deemed to be oversold, and levels above 70 are deemed to be overbought. Transaction signals are derived by finding situations where the price is going in opposite directions than the indicator. Once this divergence has been identified the trader will wait to confirm the transaction by using other technical indicators.
Here are trading rules: marketinout.com/technical_analysis.php?t=Ultimate_Oscillator&id=109
Following this, UO indicated us to go short (red arrow). Since then there has been not "close" signal for this trade.
Very interesting - I came across this indicator studying new entry/exit strategies. I am about to backtest this indicator on my trades for the next months whether UO is worth considering.
This is a range-bound indicator, which means the value fluctuates between 0 and 100. Similar to the RSI, levels below 30 are deemed to be oversold, and levels above 70 are deemed to be overbought. Transaction signals are derived by finding situations where the price is going in opposite directions than the indicator. Once this divergence has been identified the trader will wait to confirm the transaction by using other technical indicators.
Here are trading rules: marketinout.com/technical_analysis.php?t=Ultimate_Oscillator&id=109
Following this, UO indicated us to go short (red arrow). Since then there has been not "close" signal for this trade.
Very interesting - I came across this indicator studying new entry/exit strategies. I am about to backtest this indicator on my trades for the next months whether UO is worth considering.
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