Ultimate Oscillator Overbought / Oversold [UOOO]

Descripton

Summary:
This trading system script uses an Ultimate Oscillator indicator to generate trading signals whenever the underlying symbol is overbought or oversold.

Rules:
1. Buy Market - When the Ultimate Oscillator shows the symbol is oversold.
2. Sell Market - When the Ultimate Oscillator shows the symbol is overbought.
3. Sell Short Market - When the Ultimate Oscillator shows the symbol is oversold.
4. Buy To Cover Market - When the Ultimate Oscillator shows the symbol is overbought.

Variables

Type	Identifier	Description
IntegerArray	_UOKeys	Use for holding all of the UO indicator keys indexed by symbol index.
Number	_overboughtValue	Use for the minimum value above which the underlying indicator is considered overbought.
Number	_oversoldValue	Use for the maximum value below which the underlying indicator is considered oversold.
Boolean	_enableShorting	Use for indicating whether to enable the trading system script to short symbols.
Number	_stopLoss	Use for the percent distance from the current price in which to place a stop order which would limit the maximum loss.
Number	_takeProfit	Use for the percent distance from the current price in which to place a limit order which would take profit after a specified gain.
Number	_trailingStop	Use for placing a trailing stop order which would limit the maximum trailing loss.
Boolean	_isPercent	Use for indicating whether the trailing stop is measured in percent or absolute value.

OnInitialize

Function Parameters
Type	Identifier	Description
Integer	periods1	Use for the number of periods to include in the Ultimate Oscillator indicator. [Default 10]
Integer	periods2	Use for the number of periods to include in the Ultimate Oscillator indicator. [Default 20]
Integer	periods3	Use for the number of periods to include in the Ultimate Oscillator indicator. [Default 30]
Number	overboughtValue	Use for the minimum value for the Ultimate Oscillator above which the underlying indicator is considered overbought. [Default 50]
Number	oversoldValue	Use for the maximum value for the Ultimate Oscillator below which the underlying indicator is considered oversold. [Default 30]
Boolean	enableShorting	Use for indicating whether to enable the trading system script to short symbols. [Default False]
Number	stopLoss	Use for the percent distance from the current price in which to place a stop order which would limit the maximum loss. [Default 0] (0 to ignore).
Number	takeProfit	Use for the percent distance from the current price in which to place a limit order which would take profit after a specified gain. [Default 0] (0 to ignore).
Number	trailingStop	Use for placing a trailing stop order which would limit the maximum trailing loss. [Default 0] (0 to ignore).
Boolean	isPercent	Use for indicating whether the trailing stop is measured in percent or absolute value. [Default True]
Implementation
' Assign the script parameters to script variables. _overboughtValue = overboughtValue _oversoldValue = oversoldValue _enableShorting = enableShorting _stopLoss = stopLoss _takeProfit = takeProfit _trailingStop = trailingStop _isPercent = isPercent ' Use for holding indicator keys based on the specified indicator key, indexed by symbol index. Redefine _UOKeys(SymbolCount() - 1) ' Iterate over all of the account symbols. For i As Integer = 0 To SymbolCount() - 1 ' Create a UO indicator for each account symbol. _UOKeys(i) = IndicatorUO(i,periods1,periods2,periods3) ' Add the indicator to the symbol chart. ChartIndicator(i, 0, C_MERGE_LEFT, _UOKeys(i),C_LINE, 1,0) Next

OnSymbolBar

Function Parameters
Type	Identifier	Description
Integer	symbolIndex
Implementation
' Get the indicator value for the specified symbol index. Define value As Number = IndicatorValue(_UOKeys(symbolIndex)) ' Oversold. If (value < _oversoldValue) Then ' If a short position exists then generate a buy to cover order. If (_enableShorting And PositionExists(C_OPEN, symbolIndex, C_SHORT)) Then ' Generate a buy to cover market order. BrokerMarket(C_BUY_TO_COVER,symbolIndex, 0, C_DAY, "Oversold.") End If ' If no long open positions exist. If (Not PositionExists(C_OPEN, symbolIndex, C_LONG)) ' Generate a buy market order. Define orderIndex As Number = BrokerMarket(C_BUY,symbolIndex, 0, C_DAY, "Oversold.") ' Set a stop loss on the order. BrokerSetStopLossPercent(orderIndex, _stopLoss, True) ' Set a take profit on the order. BrokerSetTakeProfitPercent(orderIndex, _takeProfit, True) ' Set a trailing stop loss on the order. BrokerSetTrailingStopLoss(orderIndex, _isPercent, _trailingStop) End If ' Overbought. ElseIf (value > _overboughtValue) Then ' If a long open position exists. If (PositionExists(C_OPEN, symbolIndex, C_LONG)) ' Generate a sell market order. BrokerMarket(C_SELL,symbolIndex, 0, C_DAY, "Overbought.") End If ' If no short open positions exist. If (_enableShorting And Not PositionExists(C_OPEN, symbolIndex, C_SHORT)) Then ' Generate a sell short market order. Define orderIndex As Number = BrokerMarket(C_SELL_SHORT,symbolIndex, 0, C_DAY, "Overbought.") ' Set a stop loss on the order. BrokerSetStopLossPercent(orderIndex, _stopLoss, True) ' Set a take profit on the order. BrokerSetTakeProfitPercent(orderIndex, _takeProfit, True) ' Set a trailing stop loss on the order. BrokerSetTrailingStopLoss(orderIndex, _isPercent, _trailingStop) End If End If

OnExchangeBar

Function Parameters
Type	Identifier	Description
IntegerArray	symbolIndexes
Implementation