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