How to Add Ultimate Oscillator on MT4 Charts - Adding MT4 Ultimate Oscillator
Step 1: Open Navigator Window Panel on FX Trading Platform
Open Navigator panel as shown & illustrated below: Go to "View" menu (click on it), then select "Navigator" panel (click), or From Standard Tool-Bar click "Navigator" button or press keyboard shortcut keys "Ctrl+N"
On Navigator window, choose 'Indicators', (Double Click)
How Do I Add Ultimate Indicator on MetaTrader 4 - MT4 Ultimate Oscillator Technical Indicator
Step 2: Expand the Indicators Menu on the Navigator - Adding Ultimate Oscillator MT4 Indicator
Expand the menu by clicking the expand button marker (+) or double click the "indicators" menu, after this the button will appear as (-) and will now display a list as shown below - select the Ultimate Oscillator forex chart indicator from this list of forex indicators so as to add the Ultimate Oscillator indicator on the forex chart.
How Do I Add Ultimate Indicator - From the Above window you can then place Ultimate Oscillator indicator that you want on the Forex chart
How to Add Custom Ultimate Indicator to MT4
If the indicator you want to add is a custom indicator - for example if the Ultimate Oscillator technical indicator you want to add is a custom indicator you will need to first add this custom Ultimate Oscillator indicator on the MetaTrader 4 platform & then compile custom Ultimate Oscillator indicator so that the newly added Ultimate Oscillator custom indicator pops up on the list of custom indicators in MT4 platform.
To learn how to install Ultimate Oscillator indicators on MT4, how to add Ultimate Oscillator indicator window to MT4 and how to add Ultimate Oscillator custom indicator in MT4 - How to add a custom Ultimate Oscillator indicator on MetaTrader 4.
About Ultimate Oscillator Technical Indicator Described
Ultimate Oscillator Analysis and Ultimate Oscillator Signals
Originally developed & used to trade stocks and commodities markets.
This oscillator aims at striking a balance between leading signals & lagging signals given by the common indicators.
- Leading - some indicators lead the market & give signals earlier than the optimum time
- Lagging - some indicators lag the market so far that half of the move is over before a signal gets generated.
This is the balance that the oscillator aims to strike, not to lead too much or lag too much - this way the oscillator will always give a signal at the ultimate time, thus its name.
This indicator uses three different n-number of candlesticks and calculates the combined weighted sums of price action from these candles and plots these values a scale ranging from 0 to 100. Values of above 70 are considered to be overbought levels while values of below 30 are considered to be oversold levels.
The time periods used to calculate the ultimate oscillator are 7 periods (short term trend), 14 periods (intermediate term trend) and 28 periods (long term trend).
FX Technical Analysis and Generating Signals
This indicator can be used in generating buy and sell signals using various methods.
Center line Forex Crossover Trading Signal
Buy Signal - values above 50 center line level
Sell Signal - values below 50 center line level
Center line Forex Crossover Trading Signal
Overbought/Oversold Levels on Indicator
Overbought - levels above 70 - sell signal
Oversold - levels below 30 - buy signal
Divergence FX Trading
The oscillator can also be used to trade divergence Forex signals, below is an example of a classic bearish divergence signal.
Technical Analysis
