U-Oscillator Pro [UAlgo]

21 feb

The U-Oscillator Pro [UAlgo] is a comprehensive technical analysis tool designed to assist traders in making informed decisions in financial markets. This indicator integrates various features including oscillator, bands, trend clouds divergences, and confluence signals to provide a comprehensive view of market dynamics.



🔶 Oscillator :

U-Oscillator uses an amalgamation of price, momentum, and volatility elements to provide a comprehensive market view. It provides a common output about the market and is easy to use.

Oscillator Features :

Customizable Oscillator Length : This parameter sets the length of the oscillator.

Use Machine Learning On Oscillator Calculation : By evaluating the output of the oscillator, this data set calculates a weighted average of the data set by taking each point with a certain weight and using these weights. This is often used in situations where some data points are more important or need to have more impact than others. A weight for each point that the oscillator calculates may represent the importance or impact of that point. By including all these calculations in the oscillator, it provides a result.



Reversal Signals : Determines whether to display reversal signals on the chart. When set to true, it enables the plotting of reversal signals based on certain conditions for both long (buy) and short (sell) signals. These signals can be interpreted as "potential" turning points of the market. Signals are represented by small shapes on the chart, with green indicating short (sell) signals and red indicating long (buy) signals.



🔶 Extreme Bands:

These regions can be described as the possible reversal regions of the price and obtained by deviations of oscillator values.

Extreme Bands Features:

Band Length : Determines the length of the bands.

Show Extreme Bands : Option to display the extreme bands.

Show Middle Line : Option to show the middle line.

Transparency Mode : Adjust the transparency level of the bands.



It would not be wrong to consider it as potential overbought and oversold regions.

Example:



🔶 Divergences :

The divergence calculation in this script identifies potential reversals by analyzing pivot points in the oscillator. Here's how it works:

Divergence Features :

Pivot Length: The user specifies the length of the divergence calculation (pivotLength), which determines the number of bars to consider for pivot analysis.

Pivot Identification: The script searches for pivot highs and lows within the specified length. These pivots indicate potential turning points in the oscillator.

Divergence Conditions: Different conditions are evaluated based on the identified pivots to determine the presence of bullish or bearish divergences:

Regular Bullish Divergence: Occurs when the oscillator makes a lower low while the price makes a higher low.



Hidden Bullish Divergence: Occurs when the oscillator makes a higher low while the price makes a lower low.



Regular Bearish Divergence: Occurs when the oscillator makes a higher high while the price makes a lower high.



Hidden Bearish Divergence: Occurs when the oscillator makes a lower high while the price makes a higher high.



Visualization: Detected divergences are plotted on the chart using shapes and lines, indicating potential reversal points. Users can choose which types of divergences to display using input options.

🔶 Trend Cloud :

This section can provide information about the long-term direction of the price and the current status of the trend. The increase in the visibility of the cloud can provide information about the strength of the trend.

Trend Cloud Features :

Show Trend Cloud: This setting allows you to choose whether the trend cloud is displayed on the chart or not.

Fast Trend Cloud Mode: This feature can be used to provide information about the cloud's shorter-term trend and its strength.

Classic Mode of Trend Cloud :



Fast Mode of Trend Cloud :



🔶 Confluence :

This section of the script aims to identify potential reversal confluences based on the deviation between the price and a combination of oscillator values. The confluence signals are categorized into light and heavy, representing different levels of potential reversal strength.

Confluence Features :

Show Light/Heavy Reversal Confluences: This setting allows users to control the visibility of the confluence signals on the chart.

Confluence Term: Users can select the term for calculating the confluence, which in turn affects the sensitivity of the confluence signals. The available options are Short, Medium, and Long.

Confluence Signal Conditions:

Light Bearish Reversal Confluence: This type of confluence occurs when there is a moderate deviation between the price and the oscillator values, indicating a potential shift towards a bearish reversal in the market sentiment.

Heavy Bearish Reversal Confluence: In contrast, a heavy bearish reversal confluence signifies a significant deviation between the price and the oscillator values, suggesting a strong indication of a bearish reversal in the market sentiment.

Light Bullish Reversal Confluence: Similar to light bearish reversal confluence, light bullish reversal confluence occurs with a moderate deviation between the price andthe oscillator values, indicating a potential shift towards a bullish reversal in the market sentiment.

Heavy Bullish Reversal Confluence: On the other hand, heavy bullish reversal confluence indicates a substantial deviation between the price andthe oscillator values, suggesting a strong indication of a bullish reversal in the market sentiment.

Plotting Confluence Signals: Shapes (triangles) are plotted on the chart to indicate the presence of confluence signals. Red triangles denote bearish signals, while green triangles denote bullish signals.

This confluence analysis provides traders with additional insights into potential reversal points or helping them make more informed trading decisions.

Example For Confluence :



🔶 Disclaimer:

Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.

Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.

Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.

Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.

No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.

21 feb

Note di rilascio

// bugfix.

21 feb

Note di rilascio

// bugfix, visual update

20 lug

Note di rilascio

Alerts added.

22 lug

Note di rilascio

Major Update.

The appearance and colors were changed, and a more understandable and uncomplicated design was preferred.

🔶 Changed/Reworked Features :

- Oscillator and Reversal Signals Logic improved, Also changed appearance:



"Auto" and "Manual" features were introduced for signals,

In "Auto" mode, the buy and sell thresholds dynamically adjust based on the normalized value of the volatility, making the oscillator responsive to market conditions. In "Manual" mode, users set fixed thresholds for buying and selling, providing consistent trigger points regardless of market conditions. This allows for flexibility between adaptive and static trading strategies.

Confluence Feature was displayed with reversal signals, moved to the center of the oscillator to avoid view complexity,



- Overbought / Oversold lines added



- The Gauge Feature



The gauge feature provides a visual indicator of market trends by displaying color changes. When conditions strongly favor either a bullish or bearish trend, the gauge turns brighter green or red, respectively. This gives traders an immediate and clear visual cue about the market's overall direction, helping them make quick and informed trading decisions.

- Added some missing alerts.

22 lug

Note di rilascio

Minor fix.

17 ago

Note di rilascio

Minor change for Reversal Signal "Auto" mode.

5 dic

Note di rilascio

Money Flow Feature added,

Money Flow visually represents market activity by combining price and volume data. It uses color-coded levels to indicate the strength and direction of money flow, helping traders quickly identify bullish or bearish trends.