Ultimate Oscillator Strategy Code

October 31st, 2021, 04:31 PM

Hi

So I know that TS has the Ultimate Oscillator Strategy as a function. However I am trying to use this as a strategy as explained in e.g Investopedia (https://www.investopedia.com/terms/u/ultimateoscillator.asp) and would appreciate some help.

As stated in the link I would like to buy when all the following is true:

1. a bullish divergence must form. This is when the price makes a lower low but the indicator is at a higher low.
2. the first low in the divergence (the lower one) must have been below 30. This means the divergence started from oversold territory and is more likely to result in an upside price reversal.
3. the Ultimate oscillator must rise above the divergence high. The divergence high is the high point between the two lows of the divergence.

I am kind of at a loss on how to write this as a code. Any help would be appreciated.

Regards

November 1st, 2021, 01:59 PM

See if a simple approach approach would work.

pseudo code:

//conditions to look for:

lowest (pr, len1)=lowest len(pr, len2)
//want them to be the same (=) because otherwise the first low would be lower

lowest (uo, len1) > lowest (uo, len2) and lowest (uo, len2) <30

Otherwise you might have to use code from zigzag and or count bars back to get those locations.

Ultimate Oscillator Strategy Code

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Ultimate Oscillator Strategy Code