Ultimate_Oscillator - MetaTrader 5 script - MQL5 #23116

The final oscillator is based on three momentum indicators for different time periods: weekly, bi-weekly and tri-weekly.

It has five input parameters:

UltimateOsc = 100.0 * ((4.0*Avg1) + (2.0*Avg2) + Avg3) / (4+2+1)

Average 1 = SumBP1 / SumTR1
Average 2 = SumBP2 / SumTR2
Average 3 = SumBP3 / SumTR3

SumBP1 - Sum of BP for the first momentum period
SumTR1 - Sum of TR for the first momentum period

SumBP2 - Sum of BP for the second momentum period
SumTR2 - Sum of TR for the second momentum period

SumBP3 - Sum of BP for the third momentum period
SumTR3 - Sum of TR for the third momentum period

BP = closing price - lowest price (lowest price, previous closing price)
TR = maximum value (highest price, previous closing price) - minimum value (lowest price, previous closing price)

Attachment download

📎ultimate_oscillator.mq5 (10.7 KB)

Source: MQL5 #23116