Ultra Oscillator Indicator

Ultra Oscillator Indicator

Ultra Oscillator Indicator For MT4 combines 7,14 ,21 Linear weighted moving averages to provide a bullish or bearish slope based forex trading signals.

The Ultra Oscillator for MT4 is a combination of 3 linear weighted moving averages. It combines 7, 14 and 21 period moving average and provides a smoothed moving average line. Since the LWMA- Linear weighted moving average gives more weight to the recent price data it adjusts to the market trend changes swiftly. As a result, forex technical traders will be able to identify the trend changes and buy and sell accordingly.

This indicator is easy to use and is suitable for new and advanced forex traders. However, advanced traders can use this as a trend filter for other technical trading strategies. Additionally, this indicator works well in automated trading strategies. It works well in all chart time frames and is suitable for scalping, short and long-term forex traders.

Ultra Oscillator Indicator For MT4 Trading Signals

The indicator plots a green indicator line as an oscillator in a separate indicator window. This line is a combination of the smoothed moving average values of the 7, 14 and 21 period. Any shift in the slope of this line indicates a shift in the market trend. So, the trading strategy is to enter and exit the markets based on the change in direction of the slope.

If the moving average is sloping upwards it indicates a bullish market trend, so traders should enter a buy trade with a stop loss below the previous swing low. Effectively, the best point to book profits is an opposite trading signal.

A similar trading strategy can be followed during a bearish price trend if the slope is downwards.

Conclusion
In summary, the Ultra Oscillator indicator for MT4 is another method of the application of moving averages in forex technical trading.