What it does
The Ultimate Oscillator, by Larry Williams, blends buying pressure across three timeframes, 7, 14 and 28 periods, into one 0 to 100 reading. Buying pressure is close minus true low, and each period's ratio of buying pressure to true range is combined with weights of 4, 2 and 1 for the short, medium and long windows. Using three horizons is meant to avoid the false divergence signals that single-period oscillators produce.
How to add it
Click Indicators (ƒx) in the header.
Search “Ultimate Oscillator” and click the result.
Hover its legend row and click the gear to open settings.
How traders use it
- Trade the classic divergence rule: a bullish divergence where the oscillator's low is below 30, followed by a break above the divergence's intervening high, is the canonical buy signal.
- Mirror it for sells: bearish divergence above 70, then a break below the intervening low.
- Use 70/30 as general overbought/oversold context, with 50 as the momentum midline.
- Prefer it over single-length oscillators when you want fewer but better-qualified divergence signals.
Inputs
| Input | Type | Default | Range / Options |
|---|---|---|---|
| Length7 | number | 7 | 1–100 |
| Length14 | number | 14 | 1–200 |
| Length28 | number | 28 | 1–400 |
Plots & styling
| Plot | Style | Default color |
|---|---|---|
| UO(7,14,28) | line | #F23645 |
Every plot's color, line width and visibility can be changed on the Style tab. Precision (default 2 decimals), price-scale labels and status-line values are configurable at the bottom of the Style tab.
Tips
- Use Add to favorites in the legend menu; starred studies surface at the top of the picker.
- Reference levels (where the study has them) are editable — tune them to the instrument you're trading.
- Hide the study from the legend eye instead of removing it when you only want it out of the way temporarily.
Watch out for
- The full three-step signal is rare, so the tool generates few trades and requires patience.
- Despite the multi-timeframe design it still fails against strong trends when traders fade 70/30 mechanically.