Ultimate Oscillator (ULTOSC)
The Ultimate Oscillator (ULTOSC) by Larry Williams is a momentum oscillator that incorporates three different time periods to improve the overbought and oversold signals.
ULTOSC = 100 x [(4 x Average7)+(2 x Average14)+Average28]/(4+2+1)
Average7 = (7-period BP Sum) / (7-period TR Sum)
Average14 = (14-period BP Sum) / (14-period TR Sum)
Average28 = (28-period BP Sum) / (28-period TR Sum)
BP = Buying Power = Close - Minimum(Low or Previous Close).
TR = True Range = Maximum(High or Previous Close) - Minimum(Low or Previous Close)