This is the same script as the built-in Ultimate Oscillator except it is calculated in log-space, which may help with some very high-volatility charts (the differences will be usually be very small though).
I wanted a more dynamic divergence indicator than the stock one so this is what's come of it so far. This is a very early version but I found its detecting normal bullish divergences pretty well so I thought I'd release it.
Right now it only supports normal bullish divergences. I'm working on improving accuracy before I add in normal bearish divergences, and then...
Ultimate Oscillator with bands present at the 30, 50, and 70 pt levels.
Personally use this every time, created a script to hard code these lines so I wouldn't need to redraw them all the time.
Enjoy
EDIT: Ignore the comments... I can't get the update to show due to hard brackets " " being censored for some reason.... but they show up in here so this is where the updates will show.
This is the Ultimate (Nonlinear) Oscillator in overlay format. Took me a while to figure out the best configuration and finally found this one. From what I've observed, this is...
Small modification to stock UO code to highlight lows / highs. This helps to see the trend easily. The length to check for high/low is configurable (lengthSlope), I am yet to find the optimal setting but 30 looks nice so far.
![BTCUSD: [LAVA] UNO Overlay](https://s3.tradingview.com/b/BV2ls4EJ_mid.png "[LAVA] UNO Overlay")
