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Ultimate Oscillator

A technical analysis indicator developed by Larry Williams in 1976. It uses three oscillators, each of a different timeframe, in an attempt to capture the momentum of three different periods. A Buy signal is generated in the presence of a bullish divergence between the financial instrument and the oscillator. The first low of the oscillator should be lower than 30 to indicate the oversold condition, while the second low should be higher. The Buy signal will be in place when the oscillator exceeds 50. Similarly, a Sell signal will be generated in the presence of a bearish divergence. The first high of the oscillator should be registered above 70 to indicate the overbought condition, while the second high may be lower. The Sell signal will be in place when the oscillator moves below 50.
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