Ultimate Oscillator Indicator

Ultimate Oscillator Indicator

Ultimate Oscillator indicator for MT4 provides Overbought and oversold and divergence forex trading signals.

The Ultimate Oscillator indicator for MT4 is the result of the weighted average of a short, medium, and long period stochastic oscillator. As a result, the indicator provides a smoother oscillator that is useful for forex technical traders. The Ultimate oscillator provides overbought and oversold forex trading signals and also divergence and convergence trading signals.

The indicator is helpful for both new and advanced forex traders. New traders can identify overbought and oversold levels and anticipate price reversals using the 70 and 30 levels of the Ultimate oscillator. Similarly, advanced forex traders can apply technical trading strategies and trade divergence and convergences. Furthermore, the indicator works well in all intraday price charts as well as the daily, weekly, and monthly price charts. Moreover, the indicator is free to download and easy to install.

Ultimate Oscillator Indicator For MT4 Trading Signals

The indicator displays the oscillator in BLUE in a separate indicator window. Similarly, the overbought levels at 70 and the oversold level at 30 are displayed in BLUE.

If the oscillator values reach 70 or above it indicates that the market is overbought. So, forex traders should anticipate a price reversal and look for a BEARISH market. In this case, technical traders should enter a SELL trade. The best take profit is to exit once the oscillator reaches the opposite level. However, traders can exit if they obtain a good risk-reward ratio. The best stop loss point is to exit below the previous swing high.

Similarly, if the oscillator values reach below 30 traders anticipate a BULLISH price reversal. As the oscillator values below 30 represent an oversold price forex traders should take a BUY position. The best stop loss is below the swing low. On the other hand, traders can book the profit at the opposite oscillator level or with a good risk and reward ratio.

The indicator works well in terms of divergence and convergence. If forex traders identify divergence or convergence between the price charts and the oscillator. Traders can BUY or SELL based on the BULLISH or BEARISH divergence or convergence trading patterns identified by the indicator. Divergence and convergence technical trading strategies mostly provide a good risk and reward ratio. So, forex traders should focus on these trading signals and benefit from them.

Conclusion
The Ultimate Oscillator indicator for MT4 adds value to those forex technical traders working with oscillators. Oscillators form an integral part of technical analysis thus helping the forex traders to identify the best entry points. Moreover, divergence and convergence trading signals provide the best profitable trading signals. However, the Ultimate oscillator can provide the best trading results once combined with other technical indicators and support, resistance, and channels. Additionally, traders can download the indicator for free and install it with ease.