Ultimate Oscillator [Long] Strategy

After I published Short Selling strategy with RSIofUO , I have been working for Long side strategy with same indicator.

but for Long strategy , I have used only the Ultimate Oscillator ... (Not the RSI of UO)

Logic behind this is , when UO goes below oversold level , high chance of possible reversal from there ...

Ultimate Oscialltor values , I have used are 5, 10 and 15

Signal Line 9
Above values are best/defaulted based on testing the strategy multiple symbols

when UO crossing up buyLine and close > open ( if the cross over is already done , it will wait for 3 candles to see a green bar i.e close>open )

Note when the bar color changes to orange , that means startegy is ready to take LONG position on next bar. But dont jump here , waith for the startegy take the Long Position :-)

Signal appears when there is divergence (marked in yellow color ) ... strategy doesnt add the position , it is ony indicating you could add to existing OR if you missed the BUY signal you could enter here

Partial Exit
when UO crossing down partial exit level

When UO crossing down sell line

stop loss defaulted to 3%

Please note , I have slightly modified stop loss exit in this strategy.
Even though price hits 3% stoploss , strategy wont wind up the position ...
First , it will check if RSIofUO is above 30 , then it will hold on to the Long position.
Very reason behind this is , price is falling down and UO is going up ... That means there is bullish divergence here .. so it might turn this losing position to profitable one or will exit you with less than 3% loss.

Tested with SPY , QQQ , TSLA on 30mins to 4hrs. Though winning rate is average , net profit is exponential ...
Best working on 30 mins and 1 HR chart for QQQ

For the eductional purposes only ...
This is not a financial advise , before taking trading decission please do your own research
Script de código abierto

Siguiendo el verdadero espíritu de TradingView, el autor de este script lo ha publicado en código abierto, para que los traders puedan entenderlo y verificarlo. ¡Un hurra por el autor! Puede utilizarlo de forma gratuita, aunque si vuelve a utilizar este código en una publicación, debe cumplir con lo establecido en las Normas internas. Puede añadir este script a sus favoritos y usarlo en un gráfico.

Exención de responsabilidad

La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.

¿Quiere utilizar este script en un gráfico?